BREAKING: FG Hikes Price Of Electricity Meters

Nigerians yearning for the acquisition of pre paid electricity meters will have to pay more following the approval of an upward price increase of the device by the Nigerian Electricity Regulatory Commission (NERC).

VerseNews reports that in a circular signed and dated 5 September 2023 by the commission’s Chairman and Commissioner Legal, Licencing and compliance, Sanusi Garba and Dafe Akpeneye, respectively, a single phase pre paid meter would now cost N81,975.16k from the N58,661.69k while three phase pre paid meters is increased to N143,836.10k from N109,684.36k.

According to the circular, the new price was to ensure a fair and reasonable pricing of meters to both Meter Access Providers (Maps) and end-use customers.

“Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment.

“Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users,” NERC stated.

“Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities,” it added.