Nigeria’s power distribution companies (Discos) have announced a significant increase in electricity meter prices, the second hike in just four months. The price for a single-phase meter has now risen by up to 28%, costing between N123,000 and N149,800 depending on the provider. This latest price adjustment, which took effect on November 5, follows the Nigerian Electricity Regulatory Commission’s (NERC) decision to deregulate the meter asset market to foster competition among providers.
The NERC’s deregulation allows meter asset providers (MAPs) to independently set prices through competitive bidding rather than under centralized regulation, to enhance transparency and efficiency in meter supply. While policy advocates argue it could improve meters’ availability, consumers and advocacy groups have condemned the hikes as burdensome, especially in the current economic climate. Many consumers feel the price surge exacerbates financial hardship, particularly as Discos were previously granted funds under the National Mass Metering Program to subsidize meters.
Critics, like Princewill Okorie from the Electricity Consumers Protection and Advocacy Centre, question the justification for the hike, calling it “wicked” given that Discos received government funds to offset costs but have only repaid a fraction. Okorie highlights that the sector’s inefficiencies and alleged mismanagement continue to burden end-users, who are now expected to bear additional costs due to foreign exchange fluctuations and systemic issues in the metering supply chain.
