The harsh economic conditions in Nigerian notwithstanding, Nigerians are in for harder times as the Nigerian Electricity Regulatory Commission (NERC) has approved an upward review of prices for prepaid electricity meters in the country.
A circular signed by the commission’s Chairman Sanusi Garba and the Commissioner Legal, Licencing and compliance, Dafe Akpeneye on 5 September 2023 stated that a single phase prepaid meter would now cost N81,975.16k from the N58,661.69k while three phase prepaid meters is increased to N143,836.10k from N109,684.36k.
The circular indicated that the new price was to ensure a fair and reasonable pricing of meters to both MAPs and end-use customers.
The price review, among others, is also to “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.
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