The Federal Government has announced an increase in the prices of single-phase and three-phase prepaid electricity meters, effective from September 6, 2023.

This decision has been met with resistance from power consumers who are already grappling with rising costs in Nigeria’s energy sector.

The Nigerian Electricity Regulatory Commission (NERC) released an order signed by its Chairman, Sanusi Garba, and Commissioner for Legal, Licensing, and Compliance, Dafe Akpeneye, explaining the price hike.

Under the new rates, a single-phase meter will cost N81,975.16k, up from N58,661.69k, while a three-phase meter’s price has been raised to N143,836.10k from N109,684.36k.

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NERC stated that the price increase aims to ensure fair and reasonable pricing for both Meter Asset Providers (MAPs) and end-use customers, enabling MAPs to recover their reasonable costs for meter procurement and maintenance while ensuring a viable return on investment.

The commission also emphasized the importance of closing the metering gap for end-use customers to ensure the financial sustainability of the Nigerian Electricity Supply Industry.

However, power consumers and advocacy groups have criticized the price hike, arguing that it adds to the burden of Nigerians already facing rising costs in various energy-related products, including fuel and diesel.

Uket Obonga, the National Secretary of the Nigeria Electricity Consumer Advocacy Network, expressed concerns about the government’s decision, suggesting that pressure from Meter Asset Providers influenced the increase.

Many Nigerians are urging the government to reconsider the price hike in light of the current economic challenges faced by citizens.