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Adelabu disclosed this on Friday during a facility tour of Metering Solutions Manufacturing Services Limited in Onna, Akwa Ibom.
The minister who described the metering deficit as a major challenge, said that the move would lead to improved electricity supply in the country.
He expressed displeasure that the metering gap in the country was more than seven million, amounting to about 47 per cent meter penetration.
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Adelabu urged metering companies in the country to use local content, and improve on their annual target production to meet customer demand.
He said that the President Bola Tinubu-led administration was committed to bridging the metering gap in the country through the Presidential Metering Initiative.
“All the metering initiatives that we have had over time should come under a harmonised umbrella, that is what we are doing.
“We have a target of a minimum acquisition and installation of two million meters annually over the next five years. That is the minimum target we are given.
“This will amount to 10 million meters, and we are already taking steps to achieve this in terms of funding and recovery strategy,” he said.
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The minister decried the issue of estimated billings by DisCos, saying that such practice was not transparent and fair.
He urged DisCos to ensure adequate metering of customers in order to give them the proper billings.
“A lot of Nigerians are on estimated billing, this is not only unfair, it is unjust, it is evil because in estimated billing, there is no transparency, there is no sincerity.
“It is either one person is cheating the other, either DisCos are cheating the customers or customers are cheating the DisCos,” he said.
The minister commended the management of the company for ensuring quality and standards in their production.
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Earlier, Tolulope Ogunkolade, the General Manager, Metering Solutions Manufacturing Services Limited, said that the company had a production capacity of three million meters annually.
Ogunkolade said that the company which was established in 2017 had made significant progress in its operations.
“We have undergone equipment upgrades across all the segments of the factory since 2022. We are consistently going to produce and maintain 99.9 per cent quality assurance,” he said.
He urged the Federal Government to support the company by providing a conducive environment for businesses to thrive.
![President Bola Tinubu. [X, formerly Twitter]](data:image/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'300'%20height%3D'172'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E "President Bola Tinubu. [X, formerly Twitter]")