The Nigerian Electricity Regulatory Commission (NERC) has approved an upward price increase in the price of pre-paid electricity meters in the country.

In a circular signed and dated 5 September 2023 by the commission’s Chairman and Commissioner Legal, Licencing and Compliance, Sanusi Garba and Dafe Akpeneye, respectively, it stated that a single phase pre-paid meter would now cost N81,975.16k from the N58,661.69k while three-phase pre-paid meters is increased to N143,836.10k from N109,684.36k.

The circular said the new price was to ensure fair and reasonable pricing of meters to both MAPs and end-user customers.

“Ensure MAP’s ability to recover reasonable costs associated with meter procurement and maintenance while ensuring that their pricing structure allows for a viable return on investment.

” Evaluate the affordability of meter services for consumers, aiming to prevent excessive pricing that could burden end-users.

“Ensure that MAPs are able to provide meters to end-use customers in the prevailing economic realities.”

The hike in meters is despite the periodic increase in the electricity tariffs

President Bola Ahmed Tinubu Wednesday welcomed the tribunal verdict which affirmed his victory in the February Presidential Election.

The 5 – man Presidential Elections Petition Tribunal sitting in Abuja, dismissed all the grounds of the petitions of Alhaji Atiku Abubakar of the People Democratic Party(PDP) and Peter Obi of the Labour Party(LP) against the electorial victory of Tinubu in the February Presidential Election.

In his reaction to the court verdict, an elated Tinubu, who is currently on a trip to India, said the court’s affirmation of his election victory shall further renew and energize his focus on delivering his vision of a unified, peaceful and prosperous nation.

In a statement signed by Ajuri Ngelale, the Special Adviser to the President on Media & Publicity,

“The President recognizes the diligence, undaunted thoroughness, and professionalism of the five-member bench, led by Justice Haruna Tsammani in interpreting the law”

“The  President affirms that his commitment to the rule of law, and the unhindered discharge of duties by the Tribunal, as witnessed in the panel’s exclusive respect for the merits of the petitions brought forward, further reflects the continuing maturation of Nigeria’s legal system, and the advancement of Africa’s largest democracy at a time when our democratic system of government is under test in other parts of the continent.

“The President believes the Presidential Candidates and Political Parties that have lawfully exercised their rights by participating in the 2023 general elections and the judicial process, which followed, have affirmed Nigeria’s democratic credentials.

“The President urges his valiant challengers to inspire their supporters in the trust that the spirit of patriotism will now and forever be elevated above partisan considerations, manifesting into support for our Government to improve the livelihood of all Nigerians.

“Once more, President Tinubu thanks Nigerians for the mandate given to him to serve our country while promising to meet and exceed their expectations, by the grace of God Almighty, and through very diligent hard work with the team that has been put in place for that sole purpose.