FG to provide 2 million meters in 5 years

Minister of Power, Adebayo Adelabu, yesterday disclosed the Federal Government’s plan to bridge the reported meter gap with the provision of two million in the next five years.

The Minister who disclosed this at the All Progressives Congress (APC) stakeholders meeting yesterday in Ibadan, said it would be available to homes, business outlets and others nationwide, thus filling the gap. He added that President Bola Tinubu’s administration was working tirelessly to make life comfortable for energy users nationwide. Adelabu stated that part of the measures initiated by the President is the formation of the Presidential Metre Initiative, which is aimed at putting other initiatives under one umbrella.

For its effective takeoff of the project, the Minister disclosed that PMI already has a share capital of N75 billion, while additional funds would be needed to buy metres in bulk.

According to him, “Mr. President has taken the issue of bridging the metre gap seriously. This has necessitated his formation of the Presidential Metre Initiative, of which he has made me the chairman.

“The PMI will harmonise all other mass-metre initiatives under one umbrella and we are sure that the project will take off immediately. We already have a share capital of N75 billion, with which we are still going to raise some debt capital to ensure that we buy metres in bulk. We have a plan for the next five years that at least a minimum of two million metres shall be installed in our homes, households, businesses, and industries over the next five years so that the close to eight million-metre gap we have today will be a thing of the past by the time this administration is rounding off.”