JUST IN: FG Says Nigerians To Now Pay More for Prepaid Meters

Nigerians are to henceforth pay more for prepaid meters, according to a directive by the Federal Government, ENigeria Newspaper reports.

The directive was contained in a circular released by the Nigerian Electricity Regulatory Commission (NERC) which approved an upward review of the prices of prepaid meters or prepaid electricity meters in Nigeria.

ENigeria Newspaper reports that in the circular dated September 5, 2023, NERC said the new prices are as follows:

• Single-phase meter: N81,975.16, up from N58,661.69
• Three-phase meter: N143,836.10, up from N109,684.36

According to the circular, the FG said the new price was to ensure fair and reasonable pricing of prepaid meters to both MAPs and end-user customers.

It reads, “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.

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Source: ENigeria Newspaper