NCP Ends Estimated Billing to Bridge Meter Shortfall
The National Council for Privatization (NCP) has announced the cessation of estimated billing as part of its strategy to address the significant gap of 5.6 million electricity meters in Nigeria. To date, 1,437,000 meters have already been procured, marking a significant step forward in the initiative.
Vice President Advocates for Public-Private Partnerships
During the inaugural meeting of the NCP in 2026, held at the Presidential Villa in Abuja, Vice President Kassim Shettima emphasized the urgent need for expanding public-private partnerships (PPPs) to propel Nigeria’s economic aspirations. He reiterated the Federal Government’s commitment to unlocking the intrinsic value of national assets.
Ending Summary Billing for Better Consumer Experience
Stanley Nkwocha, Senior Special Assistant on Media and Communications in the Office of the Vice President, shared that Shettima urged relevant agencies to eliminate summary billing practices, which have been a source of frustration for electricity consumers. The Vice President highlighted that achieving Nigeria’s ambition to become a $1 trillion economy requires a careful balance between public enterprises and private sector initiatives.
Highlights of Asset Privatization Progress
Reviewing the progress made in the last year, Shettima underscored significant achievements in the sectors of mining, agriculture, and energy. He pointed to the sale of Eco Electric Distribution Company (Eco Disco) as a pivotal indicator of renewed investor confidence in the Nigerian market.
Importance of Policy Consistency in Attracting Investment
In line with the government’s reform agenda, Shettima stressed that credibility, consistency, and clarity are essential for driving capital inflows. He cautioned against policy inconsistencies, noting that overlapping mandates and ambiguous roles could jeopardize market stability and deter potential investors.
Addressing Meter Shortages Through Strategic Initiatives
Ayodele Gbelei, Director-General of the Bureau of Public Enterprises (BPE), provided an update on the Distribution Sector Recovery Programme—a $500 million initiative supported by the World Bank. A critical component involves the procurement of about 3.22 million prepaid meters aimed at bridging the current shortfall.
Settlement and Leasing Approvals from the NCP
Following the meeting, Gbelei revealed that an approval had been granted for a repatriation allowance of N157 million to 830 former NICON employees, addressing payments that had been outstanding for two decades. Additionally, the council authorized the leasing of four coal blocks to a Special Purpose Vehicle (SPV) of the Enugu State Government, contingent upon obtaining a mining permit from the Mines Registration Authority.
