For years, Nigerians have grappled with erratic power supply and the frustration of estimated billing. But this week, a glimmer of hope emerged from two significant developments that signal renewed efforts to reform the troubled electricity sector.
In a quiet neighbourhood on the outskirts of Lagos, technicians from a major electricity distribution company (DisCo) were seen installing prepaid meters at no cost to residents. It’s part of a new initiative to distribute and install 100,000 free prepaid meters to customers — a move welcomed with relief by households long burdened by inaccurate billing.
“I’ve waited for over five years to get a prepaid meter,” said Mrs. Bola Ajayi, a civil servant who watched as her new meter was mounted. “Every month, I paid bills that didn’t reflect the power I actually used. This is a small but important step in the right direction.”
The free meter rollout comes at a time when the federal government is making critical moves behind the scenes to resolve one of the biggest financial challenges in the power sector — a staggering N2 trillion debt owed to electricity generation companies (GenCos).
Speaking at the second Nigerian Electricity Supply Industry (NESI) Stakeholders Meeting of 2025, held in Abuja and convened by the Nigerian Electricity Regulatory Commission (NERC), a representative of the Special Adviser to the President on Energy, Eriye Onagoruwa, confirmed that the Presidency had begun internal processes to settle the debt.
“This debt overhang has severely strained GenCos and disrupted electricity supply across the country,” Onagoruwa said. “We recognise the urgency and are working on alternative debt instruments to address this, given the federal government’s fiscal constraints.”
She added that the Coordinating Minister of the Economy and the Debt Management Office are fully aligned with the effort and that internal approvals are already underway. While no firm timeline was given, Onagoruwa expressed confidence that tangible progress would be shared before the next quarterly stakeholders’ meeting — hinting at a possible breakthrough within the next three months.
The GenCo debt has long been a drag on the entire power value chain, with gas suppliers also affected and unable to operate at full capacity. Analysts say clearing this debt could unlock more reliable generation and boost confidence across the sector.
As the free meters begin to tick and lights stay on a little longer in some homes, there is a renewed sense of cautious optimism. Between the meters on the streets and policy action in the corridors of power, many Nigerians are watching to see if 2025 could finally mark a turning point for the nation’s electricity woes.
“The meter may seem small, but it gives people control and trust,” Mrs. Ajayi said. “Now we just need the lights to stay on.”
Stay informed, stay ahead with The Ameh News
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
