TCN had sought to purchase the meters using a loan from the World Bank, which had approved $155 million for the national mass metering program. However, the Senate believes that relying on foreign companies for the supply and installation of 1.2 million smart meters to the 11 distribution companies in Nigeria could lead to the loss of jobs and revenue for competent and prequalified local meter manufacturers.
Senator Victor Umeh, representing Anambra Central, raised the motion during plenary, highlighting the importance of encouraging local manufacturing in the country. He emphasised that a deliberate policy to prioritise local meter production would foster economic growth and create more job opportunities.
In response to the situation, the Senate has called on TCN to explore other options and engage with the African Export-Import Bank (AFREXIM) and the African Development Bank (AfDB) if the World Bank does not support the idea of promoting local meter manufacturing.
The bidding advertisement for the supply and installation of the smart meters was initially closed on July 11, 2023, but TCN extended the deadline to July 25, 2023. With this suspension, the government will have the opportunity to reevaluate the plan and find ways to strengthen the local meter manufacturing industry, providing significant benefits to the Nigerian economy and its workforce.