Emeka Moses
EBRD agrees financing package for Nigeria’s Beacon Power Services
Funds will help electricity distribution companies expand use of smart metering and grid management solutions, improving revenue collection
*Investment also supports wider power sector modernisation in Nigeria
The European Bank for Reconstruction and Development (EBRD) is providing a financing package to Beacon Power Services (BPS) to support smart metering and digital energy solutions in Nigeria.
BPS is an African energy technology company specialising in smart grid solutions, network visibility and utility digitisation. Its software, analytics and metering technologies help electricity utilities across Africa improve operational performance, reduce losses and strengthen service delivery.
The EBRD’s financing will support BPS’s work with Nigeria’s electricity distribution companies (DisCos), enabling the deployment of smart metering systems, grid management software and meter data management solutions. The technologies are expected to improve DisCos’ billing accuracy, revenue collection and network visibility. Customers will also gain improved access to information about their electricity consumption and billing through digital platforms.
The Bank’s investment is expected to support ongoing power sector reforms in Nigeria by demonstrating how digital technologies can improve electricity distribution. Wider adoption of smart metering and grid digitalisation solutions could help create a more efficient and financially sustainable power sector.
BPS has also committed to the UN’s Women’s Empowerment Principles and will introduce measures aimed at increasing opportunities for women in technical and leadership positions within the company.
Nigeria became a member of the EBRD and a country of operation in 2025. The Bank has so far invested around €175 million across 7 projects in the country and committed US$ 100 million in trade finance facilities.
