Since there are different kinds of prepaid meters in Nigeria, their prices vary depending on the number of phases that the meter has. The higher the number of phases a meter has, the costlier the meter and vice versa. This simply means that the price of a three-phase prepaid meter in the country will be higher than that of a single-phase meter.
However, it is pertinent to note that there was a recent upward review of the price of prepaid meters by the Nigerian Electricity Regulatory Commission (NERC). So, different electricity distribution companies will then sell their prepaid meters at this current price.
Apart from the prepaid meter price, there may be other additional logistics charges depending on your disco. Nevertheless, just know that the price of prepaid meters was increased in September 2023, and meters with many phases are costlier.
Additionally, it is important for know the energy requirements of your property before getting a prepaid meter for it to enable you to get the one that is suitable for it. Having known that, let’s proceed with the discussion.
Reasons for the Recent Increment in the Price of Prepaid Meter in Nigeria
The Nigerian Electricity Regulatory Commission (NERC) recently increased the price of prepaid meters in the country. The following reasons were sighted for the upward review of the price: They are:
- Increase in the foreign exchange rate
- Cost of meter production
- Increasing demand for the meter, etc.
Price of Prepaid Meter
The price of a prepaid meter in Nigeria varies depending on the number of phases that the meter has. So, the price for single-phase and 3-phase prepaid meters is not the same.
However, it is important to note that there was an upward review of the meter price in Nigeria to reflect the recent economic reality in the country. This price increment has caused an uproar; most electricity consumers have complained that they can’t afford the meter at that rate, but both NERC and DisCos have not done anything about it.
Meanwhile, as we noted earlier, prepaid meters with three phases are costlier when compared with single-phase meters. So, depending on your electricity needs and your financial strength, you may decide to buy a 3-phase or single-phase meter.
Cost of Single-phase Prepaid Meter in Nigeria
The current price of a single-phase prepaid meter in Nigeria is ₦81,975.16k. This price became effective in September 2023.
It is pertinent to note that the previous price was ₦58,661.69k. Meanwhile, it is vital to note that the price may exceed this current price, depending on your discos. So, it is best to reach out to your electricity distribution to ascertain the exact price at which they sell their meters.
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3 Phase Prepaid Meter Price
The 3-phase prepaid meter in Nigeria costs ₦143,836.10k. This is the official price that NERC approved for DisCos and companies to sell prepaid meters.
It would be recalled that its previous price was ₦109,684.36k. However, some discos may sell theirs slightly above the current price; hence, it is best to contact your disco to know the current price at which they sell their meters.
Conclusion
The price of prepaid meters in Nigeria varies depending on the number of phases that the meter has. The 3-phase prepaid meter is costlier than the single-phase meter. So, it is left for you to determine your electricity needs and go for the meter that suits you. However, there may be a slight change in the price listed in this article since different discos have their own prices and other associated logistics. Hence, it is important to reach out to your disco to ascertain the current price of their prepaid meter.
