FG has increased the electricity meter price in Nigeria.
Newsonline reports that President Muhammadu Buhari-led Federal Government has announced an increase in the price of both single-phase and three-phase electricity meters.
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The increase in meter price, Newsonline gathered would commence from November 15, 2021.
The announcement was made in a circular dated November 11, 2021, issued by the Nigerian Electricity Regulatory Commission, NERC macde available to Newsonline Nigeria.
The circular was addressed to managing directors, all electricity distribution companies and all meter asset providers.
The circular, with reference number NERC/REG/MAP/GEN/751/2, was entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations’.
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According to the NERC, the price of a single-phase meter will go from the current cost of N44,896.17 to a revised price of N58,661.69.
While the price of a three-phase meter will go from the current cost of N82,855.19 to a revised rate of N109,684.36.
The increase is coming despite stakeholders decrying the poor implementation of the Meter Asset Providers (MAPs) policy.
Recall that the prices which were initially N36,991 for single phase and N67,055 for three-phase meters, were increased in 2018 to N44.896.16 for single phase and N82,855.19 for three-phase meters.