By Esther Onyegbula & Okoronkwo Kamsi

The Federal Government has revealed that eight million metering gap exists, noting that it was committed to bridging the gap.

The Minister of Power, Adebayo Adelabu, who stated this at the 10th edition Of Nigeria Energy Conference and Exhibition 2023, said: “We have over eight million meter gap In the country.

“Also need to reduce or even eliminate this gap and come up with technology to ensure that collections are monitored.

“We need to be able to collect all power distributed. Every household and business must be metered.
There must be remote technology to monitor and track activities around these meters. A lot of people know how to bypass the meters, but we should be able to know right from the office.”

Explaining further, Adelabu said:
“Nigeria has a long-term energy expansion plan of about 60,000 Mega Watt by 2060. We have a medium-term target of 30,000 Mega Watt by 2030. However, these are achievable targets.”

Calling for collective efforts to shape energy in Nigeria, Adelabu said: “Energy is the lifeblood of any modern economy, of which Nigeria is no exception. No meaningful economic growth or industrial development can be achieved without energy.

“We can be talking of potentials from now till tomorrow; potentials of our human resources in Nigeria, the massive endowments with natural resources. If there is no energy or power, all these amount to nothing and it can never be converted into reality.

“The challenges we face, ensuring access to reliable and affordable energy for all are quite complex.
It ranges from issues of energy security, and sustainability, to addressing climate change.
Consequently, it will require collective efforts to summon these challenges to realize our dreams of socio-economic development in our country,” he added.

Calling for more investors, the minister of power said: “This industry is for short-term players. When you come in, you don’t expect to start making profits in one, two, or three years. It is a medium to long-term investment, investors must understand that. It is a huge industry.”

Speaking at the event, Ade Yesufu
Exhibition Director, Nigeria Energy said: “The Nigeria Energy exhibition and conference 2023 is aimed at providing support to the government and the industry by addressing the challenges through providing reliable long-term solutions for the power sector in Nigeria and West Africa.

“The event connects key stakeholders and governments with visionary professionals to accelerate the generation, transmission and distribution capacity.

“The Nigerian government is actively advancing its power sector in 2023 and beyond through various measures. With a $20 billion investment plan, new power plants and transmission lines are set to be established to boost electricity generation and grid stability.
Restructuring the electricity market by introducing competition and private sector involvement is underway”, Yesufu added.

The highlight of the event which is a convergence of distributors, contractors, developers, investors, and project owners had presentations from industry experts and stakeholders proffering ways to develop reliable power solutions, for the country’s peak energy demand and pave the way, for decentralisation.

The powerful panel discussions focused on power sector decentralization, the role of Natural gas in energy transition, funding opportunities, emission trading and leveraging the power of digital technology.

Also, the exhibition lounge had over 200 exhibitors from 21 countries, and three International Pavilions offering visitors, delegates and a first look at some of the latest products available in the market.