The Nigerian Electricity Regulatory Commission (NERC) has approved an upward price review for prepaid electricity meters used in the country.
In a circular dated September 5, 2023 and jointly signed by the commission’s chairman, Sanusi Garba, and commissioner, Legal, Licencing and Compliance, Dafe Akpeneye, a copy of which was sighted by DIPLOMATIC DIARY, NERC said a single phase prepaid meter would now cost N81,975.16 instead of N58,661.69k while three phase prepaid meter is increased to N143,836.10k from N109,684.36k.
The commission also stated that the approved meter prices were exclusive of the 7.5 per cent Value Added Tax (VAT).
The circular said the new price regime was to ensure a fair and reasonable pricing of meters to both MAPs and end-use customers.
“Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment.
“Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities”, it stated.