The disturbing increment of the prices of single- phased and three- phase pre-paid electricity was announced on Wednesday by the federal government commencing on September 6, 2023 with immediate effect.
Nigeria Electricity Regulatory Commission released an order pertaining this effect with the number, NERC/2023/020, and jointly signed by the Commissioner, legal, licensing and compliance, Dafe Akpeneye and the commission’s Chairman, Sanusi Garba.
The single phase meter was previously N58, 661.69k and now N81, 975.16k while three phase meter was formerly N109, 684.36k but will be N143, 836.10k as mentioned in the order by the Federal Government.
NERC said the increment was done in order for judicious pricing of meters to both Meter Asset Provider and end user.
It stated that the hike will enable MAP to be able to regain a reconcilable cost associated with meter procurement and maintenance and at same time equating the pricing structure to return on investment.
The approval of the prepaid electricity meters in Nigeria was done by the President Bola Tinubu-led Nigerian government through the Nigerian Electricity Regulatory Commission (NERC).
Sanusi Garba and Dafe Akpeneye both commission’s Chairman and Commissioner Legal, Liciencing and compliance, signed a Circular dated 5th of September 2023 on this effect.
The circular vividly says a single phase meter would be N81, 975.16 as it was formerly N58,661.69 while three phase prepaid meters was N109,684.36 but will be N143,836.10.
The purpose for this development was to ensure a fair and reasonable pricing of meters to both end users and MAPs.
