Electricity Distribution Companies (DisCos) in Nigeria have announced a new increase in the cost of electricity meters, marking the second hike within four months.
Effective from Tuesday, November 5, 2024, the price of a single-phase meter, commonly used in households, will now range between N117,000 and N149,800, depending on the DisCo and vendor.
Although specific figures were not disclosed, the price for a three-phase meter, typically used in larger homes or commercial settings, has also gone up.
This price adjustment aligns with the Nigerian Electricity Regulatory Commission’s (NERC) recent policy under the Meter Asset Prov. ider (MAP) scheme, introduced in April 2024.
This policy shift allows meter providers to set prices based on competitive bidding rather than fixed government prices. The aim is to encourage flexibility and potentially attract more investment in meter supply.