Buhari increases prices of electricity meters

Under the leadership of President Buhari, the Nigerian Government has increased the cost of both single-phase and three-phase electricity meters beginning from November 15, 2021.

It announced this in a circular dated November 11, 2021, issued by the Nigerian Electricity Regulatory Commission and addressed to managing directors, all electricity distribution companies and all meter asset providers.

The circular, with reference number NERC/REG/MAP/GEN/751/2, was entitled ‘Review of the unit price of end-use meters under the Meter Asset Provider and National Mass Metering Regulations’.

In the document, the regulator raised the price of a single-phase meter from the current cost of N44,896.17 to a revised price of N58,661.69.

It also increased the price of a three-phase meter from the current cost of N82,855.19 to a revised rate of N109,684.36.

An electric meter, or energy meter, is a device that measures the amount of electric energy consumed by a building, tenant space, or electrically powered equipment. Electric utilities use electric meters installed at customers’ premises to measure electric energy delivered to their customers for billing purposes.