Chief Adebayo Adelabu, the Minister of Power, has stated that the power sector's weak liquidity is due to an eight million metering shortfall.

He stated that most Distribution Companies (DisCos) were unable to earn enough revenue to stay in business because more than half of all power consumers were unmetered.

Speaking during a facility tour of the MBH Meter Factory in Shagamu along the Lagos-Ibadan Expressway, the minister reiterated the federal government's goal of bridging the gap by partnering with local manufacturers to install two million meters per year over the next four to five years.

Adelabu stated that MBH was essential in achieving the federal government's goal of upgrading ageing power sector infrastructure and considerably reducing the metering gap.

He went on to say, "We have identified insufficient liquidity as another fundamental concern with the proper operation of the business. Metering is at the heart of this fluidity, and it is what drives DisCos' collection.
"Less than half of all energy consumption in the country is metered, and this has been the case for quite some time.

Mr. President stated that we need to reverse this unpleasant trend and ensure that every family, business, institution, and industry is metered within the next four to four years. The metering gap, which is about eight meters wide, must be greatly decreased in the short to medium term and abolished entirely in the long term.

"This led to the establishment of the Presidential Metering Initiative being managed by the Presidential Metering Council of which I am the chairman, and we have a target to ensure that we ensure that we install a minimum of two million meters annually over the next four to five years."

He also stated that the World Bank was supporting the metering project with around two million meters through the Distribution Sector Recovery Programme (DISREP).

Rakesh Mahapatra, Managing Director of MBH, stated that the company has provided over 700,000 meters and had the potential to create 2,500 meters per day and 920,000 annually.

He stated, "We also provide solar solutions in Nigeria." We have successfully implemented solar solutions for numerous customers in Nigeria. Our warehouse is totally solar-powered. We are also intending to power our meter manufacturing using solar energy."