More pains for Nigerians as electricity meter price surges month after tariff hike

More pains for Nigerians as electricity meter price surges month after tariff hike

Nigerians are experiencing more pain as the prices of
prepaid electricity meters have gone up after seven weeks of the electricity
tariff hike on April 3.

 

This comes after the Nigerian Electricity Regulatory
Commission announced the deregulation of Meter Asset Provider.

 

Recall that on April 30, NERC, in a statement signed by its
Chairman, Sanusi Garba, and Commissioner of Legal, Licensing, and Compliance,
Dafe Akpeneye, removed electricity meter price capping.

 

Before NERC announced the meter price deregulation,
electricity distribution companies sold single and three-phased meters at a
capped price of N81,975.16 and N143,836.16. However, a recent meter price
announcement by Discos showed that the price of single and three meters have
surged to as high as N135,240.01 and N241,875.00, depending on the vendor
company.

 

It was gathered that the Abuja Electricity Company quoted
between N91,835.10 and N135,240.01 for single-phased metres by different metre
vendors. Also, AEDC said the price of a three-phase metre is between
N160,646.93 and N241,875.00.

 

Eko Electricity Distribution Company’s new meter prices
increased from N122,337.76 to N167,700 for a single-phase meter. Also, the
phase meter rose to N206.737.42 and N258,000.

 

Meanwhile, the Minister of Power, Adebayo Adelabu, said in a
ministerial briefing in Abuja last week that Nigerians’ experience following
the electricity tariff hike is temporary.

 

Meanwhile, outside of rising energy costs, Nigerians have
continued to groan over the untamed rise in the cost of food, as food inflation
increased to 40.53 percent in April 2024.

Source: More pains for Nigerians as electricity meter price surges month after tariff hike

 - NigerianEye

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