The Nigerian Electricity Regulatory Commission (NERC) has approved a 40% increase in electricity meter prices, following a similar review in November 2021. The single-phase prepaid meter now costs N81,975.16k, up from N58,661.69k, while the three-phase prepaid meter costs N143,836.10k. The price adjustment aims to create an equitable pricing system for Meter Asset Providers (MAPs) and end-user customers. The meter manufacturers have urged the government to increase intervention in the sector to enhance production. The meter manufacturers also commended the Central Bank of Nigeria (CBN) and NERC for funding and effectively regulating the mass metering programme. The NMMP Phase 1 has been put on hold by the CBN, threatening the survival of local meter manufacturers and potentially causing job loss.
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