The Federal Government of Nigeria has announced an increase in the cost of both single-phase and three-phase electricity meters.

The announcement was contained in a circular dated November 11, 2021, issued by the Nigerian Electricity Regulatory Commission (NERC) and addressed to Managing Directors, all electricity distribution companies and all meter asset providers.

This increase however does not affect end users, according to the Special Adviser to the President in Infrastructure, Ahmed Rufai Zakari.

"Meters are free under the National Mass Metering Program. From a citizens perspective an increase in price of a meter is a moot point. It doesn’t impact them. Regulatory communication does not imply that the Government “decided” to change prices. If the price of an item changes in a regulated market, the suppliers apply to the regulator to obtain approval to adjust prices," he said.

"The FX has changed and hence an adjustment in the foreign component of meters. It is quite positive that there are local components in meter pricing that do not change with FX. This change in price does not impact a consumer that obtains a meter under NMMP, it would be beneficial if the reporting reflects that. We are in a sensitive environment for consumers. It is important that messaging is appropriate to avoid Panic and confusion," he added.

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’.

According to the circular, 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.

The document went on to note that the increase would come into effect beginning from November 15, 2021.