The commission said significant changes in macroeconomic indicators, such as inflation and changes in the foreign exchange rates, necessitated a review of the rates
The Nigerian government has approved an upward review in the prices of pre-paid electricity meters in the country.
According to the circular, the price of the single-phase meter will increase to N81,975.16 from N58,661.6, while the price of a Three-phase meter was raised from N109,684.36 to N143,836.10. The Commission said it also considered relevant data on the significant changes in macroeconomic indicators from the and the National Bureau of Statistics as benchmarks for the meter price review.
It also seems to “ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment” and “evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users. Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities,” it said.
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