The Nigerian Electricity Regulatory Commission, NERC, has announced a 30.6 percent increase in the price of single-phase pre-meters and 32.4 percent for the three-phased device.
This implies that a single-phase meter that initially sells for N44,896 would now be sold at N58,661 putting the increase at N13,776 per unit.
While a unit of the three-phase meter that initially sells for N82,855 will now go for N109,684, putting the increase at N26,829.
The increase is contained in a notice signed by the NERC Chairman, Sanusi Garba to the Managing Directors of the 11 electricity distribution companies, DisCos.
Obtained by Tribune, the letter said,” pursuant to the provisions of the Meter Asset Provider and National ‘Mass Metering Regulations, the Nigerian Electricity Regulatory Commission notes the recent changes in macroeconomic parameters and hereby approves an upward review of the unit price of meters.”
According to the commission, the upward review was due to changes in foreign exchange and inflation, adding that the price review is subject to change upon the conclusion of the procurement process under phase 1 of the National Mass Metering Program.