The Nigerian Electricity Regulatory Commission (NERC) yesterday increased the price of electricity meters in the country by almost 100 per cent.
Single-phase meter, which was selling for about N44,896.17 will now sell for N82,855.19 while the price of three-phase meter jumped from N58,661.69 to N109,684.36.
The changes, according to the agency, affect the provisions of the Metre Asset Provider and National Mass Metering Regulations.
“In arriving at the approved unit price, the Commission had, in particular, only considered changes in foreign exchange and inflation since the last review of June 2020.
Nigeria has about a five million metering gap. Without metering, electricity users are billed on the discretionary method of the distribution companies.
With the increase in the assets, the government may have to further increase the N120 billion intervention, while people who want to procure the asset to evade the bureaucratic process may need to double their fund.
