Electricity meters now sell for N60,000

The cost of acquiring pre-paid
electricity meters by consumers in
the country has risen due to the fall
in the value of the naira following
the currency’s recent devaluation
by the Central Bank of Nigeria.
A single-phase meter, according to
findings by our correspondent, can
now be obtained for N39,375, while
the three-phase meter now goes
for N60,909.
Before now, the single-phase and
three-phase meters were selling
for N25,000 and N50,000.
However, with the latest
development, the cost of the
single-phase meter has risen by 56
per cent, while that of the three-
phase meter has jumped by 20 per
cent.
This means that household
electricity consumers, who are
majorly the users of single-phase
meters, will pay more for the
devices in relative terms compared
to the users of the three-phase
meters.
Our correspondent gathered that
the price increase was because
most of the meters in the Nigerian
electricity market were imported
and that the rising exchange rate of
the naira to the United States dollar
was posing a huge problem to
importers of the product.
For companies assembling the
different components of the meters
locally, the challenge is the same
because foreign exchange is
needed to import the components.
Confirming the current cost of the
meters, the spokesperson for the
Eko Electricity Distribution
Company, Mr. Godwin Idemudia,
said, “The single-phase smart
meter is N39,375, while three-
phase meter is N60,901,” adding
that the company was no longer
installing ordinary prepaid meters.
The spokesperson for the Ikeja
Electricity Distribution Company,
Mr. Pekun Adeyanju, told our
correspondent in a telephone
interview that the company had
not commenced its metering
programme yet; but was looking at
starting it on or before May.
He said the company was taking its
time to ensure that the meters it
would introduce to customers met
global standard and could stand the
test of time.
He, however, urged customers to
be patient with the firm.
The Managing Director/Chief
Executive Officer, Powercap
Limited, Mr. Biodun Ogunleye, told
our correspondent in a telephone
interview that because Nigeria was
largely a foreign currency
regulated economy, the
devaluation of the naira would
affect imported commodities,
electricity meters inclusive.
With the realities on the ground, he
said there was no way the pricing
of the meters would not be altered.
Ogunleye said, “A lot of inputs have
to be imported, and ultimately,
those inputs will be passed onto
the consumers at the cost plus
margins. As a result, the costs of
bringing in meters will go up; and
there is nothing anybody can do
about it.
“It is a priority that must be
implemented because the people
who are operating in the market
will be interested in maximising
their revenue. They will not want
to encourage any form of income
leakages.”
He said by this, whatever pricing
the Nigerian Electricity Regulatory
Commission had fixed would be
revisited because it had a little
choice as far as granting a review
was concerned.
The Powercap boss added, “We
have one or two local plants that
can produce meters. The high
foreign exchange may prompt the
government to intervene, and thus
make the business more profitable.
“But bear in mind that when it
comes to meters like many other
electronics, the specification and a
couple of other factors between
the distribution companies and the
meter manufacturers must be
adhered in order to drive
patronage.”
He said EKEDC was looking at
installing prepaid meters that
could be monitored from its offices,
adding that the move was targeted
at ensuring that communication
was enhanced between it and the
meters, notwithstanding where
they were installed.
A text message sent by our
correspondent to the Chairman,
NERC, Dr. Sam Amadi, to confirm the
position of the agency on the
matter was not responded to as of
the time of going to press, just as a
call to his mobile telephone line
indicated that it was switched off.
However, the Chief Executive
Officer, EKEDC, Mr. Oladele Amoda,
during the company’s first quarter
meeting with the media on
Monday, said it was looking at
investing $20m in providing meters
to residential users as well as other
smaller consumers of electricity.
For its key customer group, he said
about $15m would be committed to
meter provision, promising that
over 300,000 meters would be
installed by the end of the
metering programme.

where is light nw?

ancl wrote:

where is light nw?

oku!

PDP yeye dey are falious

Not too bad

really bad jor stop defending them they hv fail Nigerian

ancl wrote:

PDP yeye dey are falious

go and chase them away nah

aneke peter chukwujekwu wrote:

ancl wrote:

PDP yeye dey are falious

go and chase them away nah

change we do that

ancl wrote:

aneke peter chukwujekwu wrote:

ancl wrote:

PDP yeye dey are falious

go and chase them away nah

change we do that

in ur dream

many times they bring meters that are not even standard and then they make extreme profits from unfair metering

God save us from this NEPA or power has collapse in Nigeria (PHCN)

Uncle Jonah, deris God ooo!!!

sunnyga wrote:

God save us from this NEPA or power has collapse in Nigeria (PHCN)

power didn't collapes bro!

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

aneke peter chukwujekwu wrote:

sunnyga wrote:

God save us from this NEPA or power has collapse in Nigeria (PHCN)

power didn't collapes bro!

And What happened to it?

stainlez wrote:

aneke peter chukwujekwu wrote:

sunnyga wrote:

God save us from this NEPA or power has collapse in Nigeria (PHCN)

power didn't collapes bro!

And What happened to it?

nothing happen to it just that a add little money on miter

Little light but high bill... That is 9ja 4 us.

stainlez wrote:

Uncle Jonah, deris God ooo!!!

Tell him change we kick him out

his is going

Sure bro to his village

ancl wrote:

where is light nw?

I tired o

Yeye peoples

aneke peter chukwujekwu wrote:

ancl wrote:

aneke peter chukwujekwu wrote:

ancl wrote:

PDP yeye dey are falious

go and chase them away nah

change we do that

in ur dream

It is a reality.

isaac311 wrote:

many times they bring meters that are not even standard and then they make extreme profits from unfair metering

That is PDP 4u my brother.

PDP wahala we shall used PVC to kick them out

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

ancl wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

Tell him change we kick him out

He knows already

ancl wrote:

PDP wahala we shall used PVC to kick them out

Yes, we will

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

Ask him hard ooo

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

buhari's fault

ancl wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

Ask him hard ooo

ask who?

You na fayose spoke man

aneke peter chukwujekwu wrote:

ancl wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

Ask him hard ooo

ask who?

Ain't you from Otueke?

Abi oooo

Yes

aneke peter chukwujekwu wrote:

ancl wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

Ask him hard ooo

ask who?

He is refering to u.

eddyvic wrote:

aneke peter chukwujekwu wrote:

ancl wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

Ask him hard ooo

ask who?

He is refering to u.

For real

stainlez wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

ancl wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

Ask him hard ooo

ask who?

He is refering to u.

For real

They can sell it 100k since PHCN is now private ownership.. F.G deris God oo

Ayusguy wrote:

stainlez wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

ancl wrote:

eddyvic wrote:

aneke peter chukwujekwu wrote:

stainlez wrote:

Uncle Jonah, deris God ooo!!!

no be jonathan fault bro.

Whose fault is it ?

Ask him hard ooo

ask who?

He is refering to u.

For real

They can sell it 100k since PHCN is now private ownership.. F.G deris God oo

But they are still under Government watch...

By April expect the exchange rate to be 250 Per USD

microsat wrote:

By April expect the exchange rate to be 250 Per USD

it can not happen okay

microsat wrote:

By April expect the exchange rate to be 250 Per USD

Lailai