Ikeja Electric and Eko Electric Distribution Company on Sunday said that they had installed 62,368 pre-paid meters after the privatisation of the PHCN.
The two distribution companies disclosed this in statistics made available to the News Agency of Nigeria (NAN) in Lagos.
Mr Godwin Idemudia, the Head, Strategy Communications, Eko Electricity Distribution Company, said that about 44,300 meters had been installed by the company from Nov. 1, 2013 to date.
Idemudia said that the company had spent over N3.2 billion so far on meters procurement.
He said that the company had budgeted additional N1.8 billion to purchase about 41, 000 single and three phase meters in the next three years.
Idemudia said that additional N3 billion had been set aside for purchase of 7,500 Maximum Demand (MD) meters for adequate metering in its area.
According to him, the company is investing about N5.8 billion on meters which are being installed, while about 400,000 meters will be installed by the company within the next three years.