FG increases price of prepaid maters

The Federal Government has announced upcoming changes in the pricing of single-phase and three-phase prepaid electricity meters, set to go into effect on September 6, 2023.

This announcement came through an official order issued by the Nigerian Electricity Regulatory Commission (NERC) under reference NERC/2023/020.

The order was jointly signed by the Chairman of the commission, Sanusi Garba, and Commissioner responsible for Legal, Licensing, and Compliance, Dafe Akpeneye.

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Under the new pricing structure, a single-phase meter will cost N81,975.16k, up from the previous rate of N58,661.69k, while a three-phase meter will be priced at N143,836.10k, compared to the previous N109,684.36k.

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The NERC explained that these adjustments aim to establish fair and reasonable pricing for Meter Asset Providers (MAPs) and end-users.

The goal is to enable MAPs to recover their legitimate expenses related to meter procurement and maintenance while ensuring a sustainable return on investment.

Furthermore, the commission’s objectives include assessing meter service affordability for consumers to prevent excessive costs for end-users and ensuring that MAPs can continue supplying meters under prevailing economic conditions.

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