The President Bola Tinubu-led Nigerian government through the Nigerian Electricity Regulatory Commission (NERC) has approved price increase of prepaid electricity meters across the country.
This was made known in a circular dated September 5, 2023 and signed by the commission’s Chairman and Commissioner Legal, Licencing and compliance, Sanusi Garba and Dafe Akpeneye.
The circular stated that a single phase prepaid meter would now cost N81,975.16 from N58,661.69 while three phase prepaid meters has been increased to N143,836.10 from N109,684.36, Daily Trust reports.
According to the circular, the new price was to ensure a fair and reasonable pricing of meters to both 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. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities,” part of the circular read.