The Minister of Power, Adebayo Adelabu, has announced that the Federal Government has obtained about ₦700 billion from the Federation Account Allocation Committee (FAAC) to install 1.1 million electricity meters across the country before the end of 2025.
Speaking at the 2025 Nigerian Energy Forum (NEF) in Lagos, themed “Powering Nigeria through Investment, Innovation, and Partnership,” Adelabu said the initiative would be implemented under the Presidential Metering Initiative (PMI). According to him, after the initial phase, the government plans to deploy an additional two million meters annually over the next five years.
He explained that the metering program is designed to close Nigeria’s electricity metering gap, promote transparency, and enhance the financial health of the power sector. The PMI, he added, complements the 3.2 million meters being funded through the World Bank’s Distribution Sector Recovery Programme (DISREP), positioning Nigeria to eliminate its metering deficit within five years.
Adelabu further revealed that the government is attracting investment through bilateral and development finance partnerships to expand electricity access, particularly in underserved communities, schools, hospitals, and public facilities.
> “In the past two years, more than $2 billion has been mobilised through key programmes, including the World Bank’s DARES, NSIA’s RIPLE, and the JICA fund. These interventions are accelerating renewable energy deployment and access to reliable power,” he said.
The minister also noted that new training facilities have been commissioned at the National Power Training Institute of Nigeria (NAPTIN) to build local technical capacity in the power industry.
He disclosed that agreements signed at the 2025 Nigerian Renewable Energy Innovation Forum would add nearly four gigawatts of solar manufacturing capacity each year — representing about 80 percent of Nigeria’s current power generation capacity.
> “With this level of renewable energy production, Nigeria is on track to meet its domestic transition targets and serve regional power markets,” Adelabu stated.
He also highlighted the impact of the Electricity Act 2023, which grants states the authority to establish subnational electricity markets. So far, fifteen states have received regulatory independence, with one already fully operational.
According to the minister, ongoing tariff reforms have improved power supply reliability, reduced industrial energy costs, and increased the sector’s revenue from ₦1 trillion in 2023 to ₦1.7 trillion in 2024 — with projections to surpass ₦2 trillion by 2025.
Adelabu revealed that President Bola Tinubu has approved a ₦4 trillion bond to clear verified debts owed to generation companies and gas suppliers, along with a targeted subsidy plan to shield low-income consumers.
Reaffirming the government’s resolve to collaborate with the private sector, Adelabu stressed that unlocking stranded generation capacity remains a top priority.
> “Through sustained investment, innovation, and strong partnerships, we can power Nigeria’s journey toward a brighter, more resilient energy future,” he concluded.
