Electricity Distribution Companies (DisCos) in Nigeria have announced a significant increase in the prices of various electricity meter models, marking the second price hike in just four months.
The cost of a single-phase meter has surged from approximately N117,000 to as high as N149,800, representing an increase of 28.03 percent or N32,800, depending on the specific distribution company and meter vendor.
The new pricing structure, which went into effect on November 5, 2024, was shared via the official social media accounts of the DisCos. This adjustment reflects the recent deregulation of Meter Asset Providers (MAP) as mandated by the Nigerian Electricity Regulatory Commission (NERC).
The latest hike follows an earlier increase in August 2024, raising concerns among consumers regarding the affordability and accessibility of electricity meters amidst ongoing economic challenges.
Meter prices now vary across different DisCos, influenced by both vendor pricing and the type of meter—single-phase or three-phase. For instance, Eko DisCo has set its single-phase meter prices between N135,987.5 and N161,035, while three-phase meters range from N226,600 to N266,600.
Similarly, Ibadan DisCo offers single-phase meters for N130,998 to N142,548 and three-phase meters for N226,556.25 to N232,008.
