Lagos - The cost of acquiring pre-paid electricity meters by consumers in the country has risen from 50 000 to 60 000 while single phase meters now sells for N39 375 from N25 000, Punch reports.
The increase is said to be due to the fall in the value of the naira following the currency’s recent devaluation by the Central Bank of Nigeria.
Also read: Power firm promises prepaid meters in 18 months
For companies assembling the different components of the meters locally, the challenge is the same because foreign exchange is needed to import the components.
The spokesperson for the Eko Electricity Distribution Company, Godwin Idemudia, confirmed the increase, adding that the company was no longer installing ordinary prepaid meters.
Read more at Punch
- News 24