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.

Copyright PUNCH.

http://www.punchng.com/news/electricity-meters-now-sell-for-n60000/

We don suffer for this country. These electricity distribution companies are scamming us big time.

They take a senseless fixed charge from millions of customers which translates into billions every month. Steady billions even before their normal charges.

And despite these free billions they rake in every month, they have refused to install pre-paid metres for a good majority of their customers.

Especially those living in areas that are not high brow. These people are milking the average Nigerian dry and the light made available is still a pathetic one.

Sincerely Nigeria, we need to open up the petroleum and the electricity distribution industries to serious scrutiny. Massive corruption that has crippled this country is going on in these two sectors.

The one of electricity is even worse because they are even still extorting the little the masses depend on without even providing the power.

It is no propaganda to say the economy has been badly managed under GEJ. It is a fact!

All the regulatory agencies meant to protect the interest of the public like the NERC (electricity), DPR (petroleum), EFCC & ICPC (financial and fraud), SON (standards), CBN (banks and economy), NBC (media, multichoice just dey misbahve as they like, and nothing dey happen), NCC (telecoms- these ones are a bunch of arrogant thieves), FMEnv (Environment) among other regulatory agencies have not been visible at all and are not performing optimally!

And the resultant effect is that the Nigerian people are subjected to all forms of fraudulent practises.

Soludo hit the nail on the head, when he asserted that the economy has been handed over to the people govt is supposed to actively regulate in order to protect the Nigerian people cum consumers.

I just hope they won't come and blame other people again for this their weak oversight.

#Never again will such a weak govt lead this country.

#Never again will such a bunch of excuse givers govern hardworking and intelligent people of Nigeria.


No need for further stories...
GMB/PYO to the rescue!

#Ihavedecided

What rubbish? Me pay that much to get a meter for them to be billing me? To make matter worse, you spend that much you don't get electricity or prompt service #mtscheeeeeeeew wished people would just ignore them entirely

agabusta:
We don suffer for this country. These electricity distribution companies are scamming us big time.

They take a senseless fixed charge from millions of customers which translates into billions every month. Steady billions even before their normal charges.

And despite these free billions they rake in every month, they have refused to install pre-paid metres for a good majority of their customers.

Especially those living in areas that are not high brow. These people are milking the average Nigerian dry and the light made available is still a pathetic one.

Sincerely Nigeria, we need to open up the petroleum and the electricity distribution industries to serious scrutiny. Massive corruption that has crippled this country is going on in these two sectors.

The one of electricity is even worse because they are even still extorting the little the masses depend on without even providing the power.

It is no propaganda to say the economy has been badly managed under GEJ. It is a fact!

All the regulatory agencies meant to protect the interest of the public like the NERC (electricity), DPR (petroleum), EFCC & ICPC (financial and fraud), SON (standards), CBN (banks and economy), NBC (media, multichoice just dey misbahve as they like, and nothing dey happen), NCC (telecoms- these one are arrogant thieves), FMEnv (Environment) among other regulatory agencies have not been visible at all and are not performing optimally!

And the resultant effect is that the Nigerian people are subjected to all forms of fraudulent practises.

Soludo hit the nail on the head, when he asserted that the economy has been handed over to the people govt is supposed to actively regulate in order to protect the Nigerian people cum consumers.

I just hope they won't come and blame other people again for this their weak oversight.

#Never again will such a weak govt lead this country.

#Never again will such a bunch of excuse givers govern hardworking and intelligent people of Nigeria.


No need for further stories...
GMB/PYO to the rescue!

#Ihavedecided

. U ve said it all my brother. No other govt has allowed d exploitation and enslavement of d ordinary citizens by d friends of govt like d Goodluck administration. The guy is truly out of his depth and shouldn't ve had anything to do with d governance of a nation.

Na to wait till the value of Dollar falls in Nigeria.. .

But wait.

What goes up never comes down in Nigeria.

The best thing to do is to vote Buhari/APC cos they are a people oriented party and they will reduce the cost of the meter to ordinary Nigerians.

and some idióts will come here now to start shouting gridlock till 2019....




















I wonder what is foolishness if this is not...





saTANoids


Anyways I have DECIDED...



Hit Like if you believe The People's General can do it...

Ok

....

Transformation Agenda

Any slowpoke that uses electricity to campaign for GEJ needs a slap in d brain..

Now I have decided... GMB/PYO
Or maybe it s d opposition party that s hoarding these meters to make dem expensive?

When price of crude oil increased, dollar didn't fall
When price of crude oil reduced, dollar increased drastically...
Something beyond human comprehension must be wrong with our economy

Na only price of meter increase

Everything has increased...the products affected directly such as phones, car.... All imported products.

Just late last year, I was selling jerseys for N4,500 and this year, I am selling for N6,000

I was surprised yesterday, when I wanted to buy a kilo of chicken and the woman said the price increased due to dollar increase.

One way or the other, increase in dollar affects both imported products and locally made products.

What surprises me most is our inflation rate will exceeded two digits...

The person computing that stat must be high on GEJ's cum






Authentic jerseys available, check my signature

U wake up see today lasan,
Na Godwin.
Wishing u all a wonderful morning.

Initially they gave it out for free,later they started charging from 25k to 30k to 50k & now 60k.


Hope the APC wouldn't blame it on the PDP.

Price has always been more than that. Paid 120k for 3 phase

nna mehn, I'd just chill with my tiger gen, candle nd lantern....let em eat the light if they can......*strolling from chibok I'd be in lagos soon*

Issokay after now u start given us 2hrs light a day....I haven't seen the usefulness of this privatisation of a thing sef

Which way Naija?

jbkomo:
Price has always been more than that. Paid 120k for 3 phase

exactly. the bastards are charging 150k in ijora

GEJ till 2019











#sufferingandsmilling

Nigeria the Only Country an Electricity Company will do a Promo and be like " Pay ur Six months NEPA bill and win a brand new TIGER generator .

Nigeria... Good People Great Nation

They have deprived the common man of virtually everything

Remember that the power you have is nothing if your people cannot have Quality Education, The power is nothing if your people keep dying of Disease & Starvation, The power is nothing if your people have no Peace, but the power is nothing if your people cannot live in Unity.

Why you keep on deceiving the people Jonathan? Why you keep on to dey make these people fight one another?

We go judge by march 28

haba!!! its too much na
.....

Jonathan's Economics get worst by the day.

GEJ has really failed the country and he doesn't deserve any second oppurtunity. if u cannot do any good thing within four years u are not a good leader. why GEJ will not win the next election is explain in this video

https://www.youtube.com/watch?v=gc5TOjxtOkE

Transformation

Smh... Meanwhile, GEJ is working!

A friend of mine who has been in Ghana for a while just called me yesterday, and he said. "Guy, you guys are enjoying o". I said "how?", then he replied Nigeria is good now, I watch one advert yesterday and saw Train, Good Roads, Employment (SURE-P), even, 4500 MW of eletricity, infact I am coming back to Nigeria.

I just had to switch off my phone, in order no to embarass my country


Instead of voting out cluelessness, the gullible masses prefer to suffer and smile in the guise of "transformation" and "fresh air".

Many brainwashed TANoids will come here and say GEJ privatized the power sector; no government has ever done that, where is the light? Where is all the power plant commissioned (because of election)?

Well this is what GMB has to say;
"Shall we at home continue to live in a condition where the Power Holding Company and its successors seem only to have the power to hold us in darkness?"--GMB

#votewisely

Hmmm

Nawao, Na only God dey safe us in dis country.. D funniest part b say evn if u buy d meter @60k no adeaquate supply of electricity.. So the problem is nt buyin the meter but inadequate supply of electricity as I tell u nw dis my 3rd day wit out eletricity in Federal capital teritory Abuja.

I thought they said we have manufacturing plants for meter in Nigeria, main while MAN said 50% of them is likely to wind up this year alone because of poor electricity and over 100% increament in electricity bill.

Even some investors in electricity plants are regretting their actions because government sold their facilities to another company which is friendly to this government. Bert Naji Geoelectric company was sold to emeka ofor in anambra state yet same people shout gridlock till 201*