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ARTICLE · 13 JUNE 2024

Power Sector Q2 Updates

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The Nigerian Senate recently approved a US$500 million loan request by His Excellency, President Bola Ahmed Tinubu (GCFR) for the metering of electricity consumers in Nigeria in line with the Nigeria Distribution Sector Recovery Program (DISREP).

NigeriaEnergy and Natural Resources
Ayo Salami
Ayo Salami
Ayo Soyinka
Ayo Soyinka
Martins Arogie
Martins Arogie

US$500M Loan Approved for Metering Access Improvement

The Nigerian Senate recently approved a US$500 million loan request by His Excellency, President Bola Ahmed Tinubu (GCFR) for the metering of electricity consumers in Nigeria in line with the Nigeria Distribution Sector Recovery Program (DISREP). The loan will be utilised to improve metering infrastructure in order to enhance revenue collection, efficiency, and service delivery standards in the Nigerian Electricity Supply Industry (NESI), as part of measure to address financial and technical challenges faced by the electricity Distribution Companies (DisCos).

Only 5,842,726 (44.39%) out of the 13,162,572 registered electricity customers are metered as at 31 December 2023, according to the report issued by the Nigerian Electricity Regulatory Commission (NERC) for the fourth quarter of 2023. DisCos have continued to rely on estimated billings to recover revenue from unmetered customers.

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