Kehinde Fajobi
Electricity Distribution Companies (DisCos) in Nigeria have announced an increase in meter prices, marking the second price hike in four months.
The cost of a single-phase meter has risen from approximately ₦117,000 to as much as ₦149,800, representing a 28.03 per cent increase, or an additional ₦32,800 depending on the distribution company and vendor.
The new rates, posted on the DisCos’ official X handle on Wednesday, came into effect on Tuesday, November 5, 2024, and reflect the recent deregulation of the Meter Asset Provider (MAP) scheme, as directed by the Nigerian Electricity Regulatory Commission (NERC).
In August 2024, an earlier hike had already impacted consumers, raising further concerns about meter affordability and access.
A breakdown of the recent pricing shows variation across DisCos and vendors. Eko DisCo lists its single-phase meter between ₦135,987.5 and ₦161,035, while three-phase meters range from ₦226,600 to ₦266,600.
Ibadan DisCo’s prices range from ₦130,998 to ₦142,548 for single-phase meters and ₦226,556.25 to ₦232,008 for three-phase units.
Abuja DisCo now charges between ₦123,130.53 and ₦147,812.5 for single-phase meters and ₦206,345.65 to ₦236,500 for three-phase units.
Kano Electricity Distribution Co. offers single-phase meters at ₦127,925 to ₦129,999, and three-phase meters at ₦223,793 to ₦235,425.
Kaduna DisCo prices are set at ₦131,150 to ₦142,548.94 for single-phase and ₦220,375 to ₦232,008.04 for three-phase units.
In April, NERC announced the deregulation of meter prices under the MAP scheme, aiming to address long-standing supply issues and improve pricing transparency.
The new system allows for competitive bidding, which NERC expects to drive down prices and enhance service quality as providers compete for contracts.
NERC’s policy shift also enables MAPs to operate across all distribution areas, although providers must still meet regulatory standards to ensure quality.
Before deregulation, prices were regulated and often subsidised, a model that aimed to make metering affordable but reportedly limited competition and transparency in the supply chain.
NERC anticipates that this open-market approach will foster a more dynamic metering ecosystem, benefiting both customers and DisCos through competitive pricing and improved accountability from providers.