Power distribution companies (Discos) in Nigeria have announced a 28% price increase for various prepaid meter models, sparking outrage among consumers already struggling with the country’s economic challenges. The new prices, which took effect on November 5, 2024, mark the second price hike in just four months.
According to the Discos, the cost of a single-phase meter has surged from approximately N117,000 to as high as N149,800. This increase, ranging from N32,800 to N35,000 depending on the vendor, has drawn criticism from electricity users, who have condemned the rise as “wicked.”
This price adjustment follows a deregulation of meter pricing under the Nigerian Electricity Regulatory Commission’s (NERC) Meter Asset Provider (MAP) scheme. Previously, meter prices were centrally regulated and subsidized, but under the new system, meter providers are now free to set prices through competitive bidding.
The increase in meter prices comes after a similar hike in August 2024, further inflaming concerns about affordability and the financial burden on Nigerian consumers. Meter prices vary across different Discos, with some companies, like Eko Disco, charging between N135,987 and N161,035 for single-phase meters, while others, like Ibadan Disco, have set their prices between N130,998 and N142,548.
The National Mass Metering Programme (NMMP), which aimed to provide affordable meters to consumers, has also been a point of contention, with critics questioning how the funds allocated for the program have been used. Consumers have called on Discos and regulatory bodies to justify the price hikes and address the lingering issues with meter accessibility and affordability.
