JUST IN:FG increases price of electricity meters amid economic hardship

The Nigerian government has approved an upward increase in the price of pre-paid electricity meters in the country.

This was contained in a circular dated Tuesday, September 5, 2023, and issued by the Nigerian Electricity Regulatory Commission (NERC).

The circular signed by the commission’s Chairman and Commissioner Legal, Licencing and compliance, Sanusi Garba and Dafe Akpeneye, respectively, stated that a single phase pre-paid meter would now cost N81,975.16k from the N58,661.69k while three phase pre paid meters is increased to N143,836.10k from N109,684.36k.

The circular said the new price 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.

This development comes amid economic hardship in Nigeria occasioned by fuel subsidy removal.

Although the Nigerian government under the administration of Tinubu has rolled out some palliatives across the nation to ameliorate the effect of the subsidy removal, many citizens are still groaning in pain and suffering.

This forced the Nigeria Labour Congress (NLC), to embark on a two-day warning strike held between September 5 and 6, 2023. The union had vowed to go on 21-day strike if the government failed to accede to their demands after the warning strike.

Meanwhile, the government and the Trade Union Congress (TUC) have agreed to resolve the labour demands in 14 days.



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