BREAKING: Tinubu Government Increases Metres Price Amidst Hardship In Nigeria

Tinubu Government has increased metres price amidst the lingering economic hardship in Nigeria.

 

Newsonline Nigeria reports that President Bola Ahmed Tinubu Government through the Nigerian Electricity Regulatory Commission (NERC) has approved price increases for Meter Asset Providers (MAPs).

 

This Nigeria News platform understands that given the new increase, the single and third-phase prepaid meters will now cost N81,975 and N143,836 respectively.

 

This implies that the single-phase meter which initially went for N58,661 is now up by 40 percent while the third-phase formerly N109,684 increased by 31.1 per cent.

 

The Commission made the disclosure in a circular cited; Order on the Price Review of MAPs meters dated 5th September and jointly signed by the Chairman, Sanusi Garba, and Commissioner, Legal, Licensing and Compliance, Date Akpeneye.

The approved meter prices are exclusive of Value Added Tax it stated.

Also, the Commission said the approved review is inclusive of the revised Nigerian Electricity Management Services Agency (NEMSA) sealing cost of N843/unit for Single-phase and N1,100/ unit for three-phase.

 

It said the development is pursuant to the provisions of section 8(1)(c) of the MAPs Regulations which provides that the costs of single-phase and three-phase meters for MAPs, inclusive of all other associated costs of installation and warranties shall be at the regulated rates approved by the Commission.

 

“All MAPs shall adjust their prices to reflect the approved rates.

“All DisCos and MAPs are to develop/implement customer enlightenment campaigns on the price review along with a schedule on the implementation of their meter rollout plans,” it said.

However, he directed All MAPs to supply meters previously paid for by end-use customers prior to the commencement of the Order at the prevailing rate when payment was made by the customers without additional increase in cost.

 

The Commission said the Order effective 6th September 2023, will remain in force until amended or revoked by subsequent orders issued by it.