The Federal Government of Nigeria has announced a rise in the prices of single-phase and three-phase pre-paid electricity meters, effective from September 6, 2023. A single-phase meter will now cost N81,975.16k, up from N58,661.69k, while a three-phase meter’s price has been raised to N143,836.10k from N109,684.36k.
This move has been met with opposition from power consumers who are already grappling with rising costs in the energy sector, including fuel and diesel prices. The government cited the need for a fair and reasonable pricing structure to ensure the viability of Meter Asset Providers.
Analysis: This development comes amid a wider discussion about the affordability of utilities for Nigerians. Rising costs across different sectors, including energy, can significantly impact households, particularly those with limited income.
It’s crucial for the government to balance the needs of providers with the affordability of these essential services for the public. Finding a sustainable and equitable pricing structure will be key in ensuring access to reliable electricity for all citizens.