Electricity Distribution Companies in Nigeria have announced a second price increase in four months for various electricity meter models.
Starting from November 5, 2024, the cost of a single-phase meter will rise from around N117,000 to as much as N149,800, depending on the DisCo and meter supplier.
This price hike follows the deregulation of Meter Asset Providers, as mandated by the Nigerian Electricity Regulatory Commission.
The move is intended to promote competition in the meter supply market but has resulted in higher costs for consumers.
This upward revision follows a similar increase in August 2024, heightening concerns among electricity consumers about the affordability and accessibility of meters.
Findings revealed that meter prices differ across DisCos, influenced by factors such as the vendors and meter models (single-phase and three-phase). Below are the new average meter prices, inclusive of VAT:
Single Phase Meter: N135,987.5 – N161,035
Three Phase Meter: N226,600 – N266,600
Ibadan DisCo:
Single Phase Meter: N130,998 – N142,548
Three Phase Meter: N226,556.25 – N232,008.04
Abuja DisCo:
Single Phase Meter: N123,130.53 – N147,812.5
Three Phase Meter: N206,345.65 – N236,500
Kano Electricity:
Single Phase Meter: N127,925 – N129,999.75
Three Phase Meter: N223,793 – N235,425
Recall, it was reported in April 2024 that the Nigerian Electricity Regulatory Commission introduced a significant policy shift by deregulating meter prices under the Meter Asset Provider scheme for end-user customers.
According to NERC’s latest directive, meter prices under the MAP scheme will now be determined through competitive bidding, rather than being centrally regulated.
The deregulation also lifts previous operational restrictions, enabling MAP permit holders to offer metering services across all DisCos in Nigeria
