Consumers Protest as Fg Hikes Electricity Meters Price by 40%

The Federal Government, on Wednesday, announced an increase in the prices of single-phase and three-phase pre-paid electricity meters, and declared that the hike takes effect from September 6, 2023.

In that sequence, the government stated that a single-phase meter would now cost N81,975.16k from the previous price of N58,661.69k, while the price of a three-phase meter was raised to N143,836.10k from N109,684.36k.

This was, however, kicked against by power consumers, who wondered why the Federal Government had continued to hike the cost of various commodities in Nigeria’s energy sector.

But explaining why it hiked the costs of the meters, the NERC said it was to ensure a fair and reasonable pricing of meters to both Meter Asset Providers and end-use customers.

It said the hike would ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance, while ensuring that their pricing structure allowed for a viable return on investment.