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FG Increases Electricity Meter Prices by over 30%

Prices

The federal government, through the Nigerian Electricity Regulatory Commission (NERC), has increased the price Nigerians will from next Monday pay for single phase and three-phase meters by between 30.6 per cent and 32.3 per cent respectively.

Making the announcement in a circular signed by the commission’s Chairman, Sanusi Garba, dated November 11, 2021, NERC stated that the new prices were exclusive of Value Added Tax (VAT)

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The commission’s order, which hiked the single-phase meter from the current cost of N44,896.17 to a revised price of N58,661.69 and the three-phase meter from the cost of N82,855.19 to a revised rate of N109,684.36, was addressed to managing directors of all electricity Distribution Companies (Discos) and all Meter Asset Providers (MAP).

Details to come…

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