The Nigerian Electricity Regulatory Commission (NERC) has approved the release of ₦28 billion for the second phase (Tranche B) of the Meter Acquisition Fund (MAF), aimed at accelerating prepaid meter deployment nationwide.
The approval, contained in a new regulatory order signed by NERC’s Vice Chairman, Musiliu Oseni, and Commissioner for Legal, Licensing and Compliance, Dafe Akpeneye, took effect on October 6, 2025.
According to the Commission, the ₦28 billion allocation will be shared among the 11 electricity Distribution Companies (DisCos) based on their individual contributions to the fund as of the July 2025 market settlement.
NERC explained that the funds will be used to procure and install prepaid meters for all unmetered Band A customers and to fast-track the metering of Band B customers within the DisCos’ respective service areas. It emphasized that the meters provided under the scheme will be free of charge to electricity consumers.
“The Commission has approved the deployment of the sum of ₦28,000,000,000 for Tranche B of the MAF Scheme,” the order stated.
“These funds shall be allocated in proportion to the respective contributions of the DisCos and are intended to meter all outstanding unmetered Band A customers while expediting the closure of the metering gap for Band B customers.”
NERC noted that the Meter Acquisition Fund was designed to bridge Nigeria’s persistent metering gap—estimated at over seven million customers—and to address the financial constraints of DisCos in financing meter procurement and distribution.
The Commission explained that the MAF, managed by an appointed Fund Manager, consolidates market revenues to create a sustainable pool for meter acquisition. The initiative complements the Presidential Metering Initiative (PMI), which seeks to eliminate the metering deficit and enhance energy data accuracy through smart technology deployment.
NERC also disclosed that the first phase (Tranche A) of the Meter Acquisition Fund, worth ₦21 billion, was fully implemented and completed by June 30, 2025.
Under the new directive, DisCos must initiate a transparent procurement process for selecting Meter Asset Providers (MAPs) within 10 days of the order’s commencement. Selected providers must have at least 30 percent local content, deliver all approved meter quantities within seven days of NERC’s authorization, and complete installation by December 31, 2025.
To ensure transparency and accountability, NERC mandated that all contracts, meter inventories, and progress reports be submitted to the Commission. It warned that penalties would apply to any DisCo or MAP that fails to meet the stipulated timelines or contractual obligations.
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