The Federal Government has announced the decision to increase the cost of both single-phase and three-phase electricity meters.
This announcement was made in a circular issued on 11th of November, 2021 by the Nigerian Electricity Regulatory Commission (NERC).
In the circular addressed to all electricity distribution companies, meter asset providers across the country, the NERC directed that the price of a single-phase meter be raised from the current cost of N44,896.17 to a revised price of N58,661.69.
Also, the price of a three-phase meter will be raised from the current cost of N82,855.19 to a revised rate of N109,684.36.
The directive will also take effect from November 15, 2021.
Following the announcement of the increase, Nigerians on social media have lamented the persistent hike in the cost of goods and services in the country.
Below are some of the reactions harvested on social media: “Food increase, electricity increases, data increase, fuel increase, suffering and smiling.”(@southboy)
“If they don’t increase electricity price, how will they pay up the debt they’re incurring from China?”(@christo)
“Increasing meter price not tariff. Okay got it. Clueless set of leaders. One day, all these will end and Nigerians will be happy again. Keep increasing everything until we would not be able to afford anything again, then we will come for you all.”(@docmimi6)