Electricity Distribution Companies (DisCos) in Nigeria have officially announced an increase in the prices for electricity meters.
The increased prices will start on Tuesday, November 5, 2024.
The cost of a single-phase meter, a common type for household use, will now range from about N117,000 to as much as N149,800, depending on the DisCo and vendor.
The price for the three-phase meter, which is often used for larger homes or commercial buildings, has also seen a rise, although specific figures were not provided in this announcement.
This decision comes amidst rising operational costs, which have made it more challenging for DisCos to maintain their services at the current price levels.
The hike in meter prices is expected to affect millions of Nigerians who rely on prepaid meters, with the new rates set to be implemented across various states.
The announcement has sparked concerns among consumers who are already dealing with the economic pressures of rising inflation.
Many households and small businesses that rely on electricity to operate are now questioning the affordability of these new charges.
Despite the increase, DisCos argued that it is necessary to ensure sustainability in their operations and provide better services in the long run.
