Electricity: Meter price hits N250,000 as many strive to exit estimated billing – Newstrends
Connect with us

News

Electricity: Meter price hits N250,000 as many strive to exit estimated billing

Published

on

Prepaid-Meters

Electricity: Meter price hits N250,000 as many strive to exit estimated billing

The Nigerian Electricity Regulatory Commission’s (NERC) move to deregulate Meter Asset Providers (MAP) was hailed as the much-needed solution to the country’s persistent metering gap crisis.

However, this silver bullet has come with a price, and not just figuratively. The soaring cost of prepaid meters has added a new layer of burden for the average Nigerian household, making the dream of escaping the trap of estimated billing feel like an increasingly distant hope.

For millions of Nigerians, the sharp rise in metering costs from about N80,000 to over N200,000 in just one year has become as burdensome as the problem it was meant to solve: eliminating estimated billing.

Four months ago, NERC introduced a promising policy to deregulate both meter prices and providers, embracing a willing-buyer, willing-seller system aimed at opening up the market. This move was intended to empower customers, allowing them to obtain meters from any approved vendor without relying on the DisCos.

While this policy appeared commendable on paper, it has brought new challenges.

The most pressing of these is the increase in meter prices, exacerbated by the prevailing economic conditions and rising inflation.

READ ALSO:

According to the National Bureau of Statistics, the number of customers on estimated billing has surged from 5.83 million in Q4 2023 to 6.43 million in Q1 2024, marking a significant 10% rise.

These figures represent millions of households striving to escape the cycle of overbilling and other abuses by their distribution companies, only to find that the path to obtaining a prepaid meter has become even more difficult.

Latest Meter Prices  

Following the announcement by NERC, DisCos and their meter providers partners have declared new meter prices, pointing to the deregulation policy and ailing economic conditions.

None of the new prices is below N100,000, a very sharp increase from the former price announced by NERC in September 2023.

According to the new prices by DisCos, the cost of a single phase meter rose from N81,975 to about N125,000, depending on the DisCo and the vendor the customer is purchasing from.

Different DisCos announced different prices from N120,00 for a single-phase meter to about N240,00 for a three-phase meter, a sharp increase that has made struggling Nigerians question their choices in obtaining meter and estimated billing.

The average prices announced by distribution companies across the country are as follows.

Abuja DisCo:  

Single Phase Meter — Between N105,000 to  N131,000

Three Phase Meter — N198,000 to N220,000

Kaduna DisCo: 

Single Phase Meter — Between N120,000 to N132,000

Three Phase Meter — Between N206,000 to N215,000

Ikeja DisCo: 

Single Phase Meter — Between N120,000 to N125,000

Three Phase Meter — N213,000 to N225,000

Eko DisCo: 

Single Phase Meter — Between N117,000 to N135,000

Three Phase Meter — Between 145,000 to N247,000

This increase in price is true for all the eleven DisCos across the country.

Electricity: Meter price hits N250,000 as many strive to exit estimated billing

News

Salary: FG vows to prosecute private employers paying below N70,000

Published

on

Salary: FG vows to prosecute private employers paying below N70,000

The Federal Government has warned companies in the private sectors against paying below the new minimum wage of N70,000.

This is even as the government implored agencies recruiting for the private sector to adhere to the N70,000 minimum wage.

The FG explained that the new minimum wage was aimed at cushioning the impact of the current harsh economic reality and failure to pay it would could attract severe penalty.

The Permanent Secretary, Ministry of Labour and Employment, Kachollom Daju, made this known on Wednesday.

Speaking at the 13th Annual General Meeting of the Employers Association for Private Employment Agencies of Nigeria, held in Ikeja, Lagos, she noted the new minimum was now a law.

She stated that no Nigerian worker, whether in government or private employment, should be paid less than the minimum wage.

READ ALSO:

Daju, who was represented by the Director of Employment and Wages of the ministry, John Nyamali, said, “The minimum wage is now a law, and as a result, it is a punishable crime for any employer to pay less than N70,000 to any of its workers.

“The private employment agencies should make it compulsory in any contract they take from their principal that their workers should not earn less than the minimum wage. The least paid worker in Nigeria should earn N70,000, and I think that should be after all deductions.

“The minimum wage is a law, and you can be jailed if you fail to implement it. The Federal Government is committed to ensuring that the least paid worker goes home with N70,000.”

In his remarks, the President of the Employers Association for Private Employment Agencies of Nigeria, Dr. Olufemi Ogunlowo, asked the government and Nigeria Labour Congress to clarify whether the N70,000 minimum wage is net or gross, stating that all vague aspects in the Act should be highlighted and explained.

According to Okoye, the EAPEAN is already committed to the minimum wage, as well as providing decent jobs for Nigerians and guarding against the exploitation of human resources.

“As a labour union in the private sector, we are committed to the implementation of the minimum wage. We are a law-abiding and guided association. Our principals and clients have also keyed into the minimum wage.

“However, the government must clarify whether the N70,000 minimum wage is net or gross. The government and NLC should address all ambiguities in the minimum wage,” he stated.

Salary: FG vows to prosecute private employers paying below N70,000

Continue Reading

News

Tinubu govt inherited hardship from Buhari administration – Emir

Published

on

Emir of Minna Alhaji Umar Farouk Bahago and President Bola Ahmed Tinubu

Tinubu govt inherited hardship from Buhari administration – Emir

The Emir of Minna, Alhaji Umar Farouk Bahago, has stated that the economic challenges currently faced by Nigerians were inherited from the administration of former President Muhammadu Buhari. The Emir made these remarks during a sensitisation event on federal government intervention programmes, organized by the Office of the Minister of Information and National Orientation in Minna, Niger State.

Represented by Alhaji Maikudi Achaza, the Hadinin Minna, the Emir praised President Bola Tinubu for his efforts in addressing the issues caused by past corruption. He pointed out that many citizens remain unaware of Tinubu’s initiatives due to inadequate communication, particularly in local languages.

Former Head of State General Abdulsalami Abubakar also expressed concern about the worsening hardships faced by Nigerians. He urged the Tinubu administration to take urgent action to alleviate the suffering of the people. During a courtesy visit from the Campaign for Democracy and Human Rights, a Minna-based civil society group, Abdulsalami criticized the distribution of palliatives, stating they are not an effective solution to the rising cost of living.

READ ALSO:

He emphasized that leaders need to connect with ordinary citizens and understand their struggles, noting that high transportation costs, increased fuel prices, rising school fees, and lack of financial resources are making life difficult for many.

Abdulsalami proposed that the government should sell essential food items at reduced prices to help citizens cope with inflation, rather than relying solely on palliatives. He also urged Nigerians to remain peaceful ahead of the planned #EndBadGovernance protests on October 1, 2024, and advised the government not to take citizens for granted.

The Minister of Information, Mohammed Idris, represented by Asabe Sule Garba, emphasized that the event aimed to raise awareness about the federal government’s efforts to improve the lives of citizens. He reiterated President Tinubu’s commitment to accountability and transparency and called for public support.

Tinubu govt inherited hardship from Buhari administration – Emir

Continue Reading

News

FG mulls new system against fraud, to enhance identity verification

Published

on

Minister of Interior, Dr Olubunmi Tunji-Ojo

FG mulls new system against fraud, to enhance identity verification

The Federal Government has raised concerns about foreigners misusing Nigerian identities and harming the country’s reputation abroad.

Dr. Olubunmi Tunji-Ojo, Minister of Interior, announced plans to harmonise Nigeria’s citizenship database to improve individual and corporate identity management.

Speaking at the start of a three-day national workshop on counter-terrorism financing, organised by the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), Tunji-Ojo revealed that the new database will facilitate global verification of Nigerian identities, aiding in the fight against money laundering and terrorism financing.

Tunji-Ojo stressed the need to address identity fraud, stating, “Identity fraud must be reduced to nil. It should be impossible for one person to hold different accounts or identities.”

READ ALSO:

He highlighted issues where individuals use multiple identities across borders, contributing to misuse of Nigeria’s passport and identity systems.

The minister noted that many individuals damaging Nigeria’s image abroad are foreigners carrying Nigerian passports.

He pledged to create a centralized system for real-time verification of all documents issued within Nigeria, aiming to enhance the accuracy and credibility of Nigerian identities globally.

Mrs. Hafsat Bakari, Director of the Nigerian Financial Intelligence Unit (NFIU), underscored the importance of tracking funds used for terrorism, stating, “Without funds, terrorists and terrorist organisations would not be able to carry out their acts.”

GIABA Director-General, Mr. Edwin W. Harris Jr., reaffirmed the organisation’s commitment to strengthening West African nations’ efforts against money laundering and terrorism financing.

FG mulls new system against fraud, to enhance identity verification

Continue Reading

Trending