The Federal Government through the Nigerian Electricity Regulatory Commission (NERC) has announce the increase in the prices of electricity in the country.
This was contained in a circular dated November 11, 2021, issued by the NERC and addressed to managing directors, all electricity distribution companies and all meter asset providers.
According to the circular, the cost of both single-phase and three-phase electricity meters would be increased by 31.53 percent beginning from November 15, 2021.
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’.
In the document, 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.
This comes a few months after Nigeria overtook Congo as the worst country in the world with the highest number of citizens that lack access to electricity.
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