The Nigerian Electricity Regulatory Commission (NERC) has implemented a price hike for electricity meters obtainable through the Meter Assets Programme (MAP). This adjustment was conveyed through an order issued on Tuesday.

The cost of single-phase meters has seen a substantial increase of N23,313.47, marking a significant rise of 39.74 percent. This brings the new price for single-phase meters to N81,975.16, up from the previous rate of N58,661.69.

Similarly, the price for three-phase meters has been raised by N34,151.74, representing a notable increase of 31.13 percent. This adjusts the rate for three-phase meters to N143,836.10, up from the previous N109,684.36.

NERC, in this order, signed by its Chairman, Engr. Sanusi Garba, and the Commissioner for Legal, Licensing & Compliance, Dafe Akpeneye, has justified these increases by citing significant changes in macroeconomic indicators, particularly inflation and fluctuations in foreign exchange rates. These changes have necessitated a review of the regulated rates for MAP meters.

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