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Single phase pre- meter now costs N81,975.16k, 3- phase meter N143,836.10k — as FG announces hike in prices

The Eyewitness Reporter
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

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Headlines

Grimaldi faults report on sales of 2,500 empty containers, clarifies position on customs duty responsibility

Funso OLOJO, Editor 
Grimaldi Agency Nigeria has issued a clarification regarding reports concerning the sale of empty shipping containers by Grimaldi Deep Sea S.p.A.
In a statement issued on Wednesday,June 3rd, 2026, Grimaldi Agency Nigeria said claims suggesting that the seller was liable for customs duties following the sale of a few empty containers are inaccurate and inconsistent with the terms of sales.
The company also refuted reports that it sold 2,500 empty containers, describing such claims as false and unsupported by facts.
According to the company, empty containers were sold strictly in their international customs status, commonly referred to as a “foreign customs position”, and were not transferred as domesticated equipment intended for local use within Nigeria.
The agency explained that the terms of the sale were clearly outlined in the documentation provided to the purchaser.
The invoice expressly stated that the containers were being transferred in foreign customs position and that the buyer was meant to use the equipment solely for international carriage of goods without altering their original customs status.
Grimaldi further noted that the sales agreement specifically provided that if any local customs regulations required the containers to be regularised or domesticated for local use, such procedures would be carried out entirely at the buyer’s responsibility and expense.
The company emphasised that the arrangement reflects established international shipping practice, under which containers sold in foreign customs status are routinely purchased by traders, exporters and logistics operators for use as Shipper Owned Containers (SOC) in international trade.
Under this model, containers may continue to operate in international commerce without any change to their customs classification or status.
The company stressed that customs obligations generally arise only when a purchaser elects to convert the equipment for domestic purposes, including storage, construction projects or other local applications that require domestication under applicable customs regulations.
“In such circumstances, responsibility rests with the party changing the status and use of the equipment, namely the purchaser,” the statement said.
Grimaldi Agency Nigeria maintained that any customs duties, taxes, levies or related charges that may become payable as a result of a buyer’s decision to domesticate the containers cannot be attributed to the seller, as such obligations arise from actions taken after the completion of the sale.
Reaffirming its position, the company stated that Grimaldi Deep Sea S.p.A. has consistently conducted its operations in accordance with applicable international shipping standards, industry practices and the contractual terms agreed with its customers.
Grimaldi Agency Nigeria said the contractual obligations and responsibilities associated with the transaction were clearly defined from the outset and remain consistent with established principles governing international container trade.
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Customs

“You are worthy ambassador of Osun State” Oni of Ife eulogies Adeniyi’s leadership of Customs 

Funso OLOJO,  Editor 
The Ooni of Ife, Oba Adeyeye Ogunwusi II, has eulogized the sterling qualities of Adewale Adeniyi, the Comptroller- General of Customs, for his revolutionary leadership of the Nigeria Customs  Service.
The  first class Yoruba monarch made the commendation on Thursday, 28th May 2026, during the annual Eid-el-Kabir gathering hosted by the Comptroller-General at his residence in Modakeke, Osun State.
The Oni, who cited President Bola Tinubu’s public commendation of Adeniyi as evidence of the confidence reposed in the Customs boss, described him as a good ambassador of Osun State and a source of pride to the ancient Ife Kingdom and the Modakeke community.
Oba Ogunwusi said President Tinubu’s public expression of satisfaction with Adeniyi’s performance reflected confidence in his leadership and the results being achieved by the Service.
“We are very proud of him and the work he is doing. When Mr President publicly expressed satisfaction with his performance, it was not a casual statement.
” It reflects trust in his capacity and the results he is delivering. What he is doing in the Customs Service and in the community shows that he is a unifier.”
Reaffirming the support of the Ife Kingdom for the Comptroller-General, the monarch declared:
“He brings people together, and that is what leadership is about. We will continue to stand by him and pray for him.”
Addressing guests, the Comptroller-General of Customs (CGC) Adeniyi expressed appreciation to the Ooni of Ife, community leaders, family members, friends, associates, and well-wishers for their continued support.
He described Eid-el-Kabir as a season that reminds humanity of the virtues of sacrifice, gratitude, obedience, and service to others.
According to him, beyond the celebration, the gathering provides an opportunity to reconnect with people, strengthen relationships, and reflect on the collective responsibility of building stronger communities and a better nation.
The CGC noted that the NCS has continued to record significant progress in revenue generation, trade facilitation, anti-smuggling operations, technological innovation, and corporate social responsibility initiatives in line with the economic objectives of the Federal Government.
He said the Service remains focused on supporting the Renewed Hope Agenda of President Tinubu through reforms aimed at facilitating legitimate trade, enhancing national security, improving compliance, and creating opportunities for economic growth.
CGC Adeniyi added that Customs has continued to invest in community-focused interventions across the country, including educational support programmes, healthcare initiatives, and other projects designed to improve the lives of Nigerians.
He pledged that the Service would continue to pursue reforms aimed at strengthening its operations and delivering greater value to the nation, while assuring stakeholders of Customs’ commitment to professionalism, transparency, and service excellence.
Adeniyi also expressed gratitude to President Tinubu for the opportunity to serve the country and assured Nigerians of the Service’s continued support for government policies geared towards economic prosperity and national development.
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Headlines

Former Super Eagles stars grace Taiwo Afolabi cup tournament 

Funso OLOJO,  Editor 
Former Nigerian footballers,  including Daniel Amokachi, Dosu Joseph, Tajudeen Disu, Fatai Amoo, and Waidi Akanni, were among the dignitaries who graced the final of this year’s Taiwo Afolabi Football Tournament held at the Onikan Stadium, Lagos.
The U-17 tournament, which is in its 10th edition, is one of the leading grassroots football competitions in Lagos State, sponsored by Dr. Taiwo Afolabi, Chairman of SIFAX Group, to discover, nurture, and promote young football talents at the grassroots level.
At the end of the grueling final matches, Fortune FA, Oshodi and Labro Queen, Oyingbo, emerged winners of the boys and girls competitions respectively.
Fortune FA defeated Dynamo FC, Iwaya 2-0 in the boys’ final, with goals from Quadri Popoola and Agbato Wasiu securing the title.
In the girls’ final, Labro Queen FC and Starlet Girls FC of Idimu played out a goalless draw in regulation time before Labro Queen triumphed in the penalty shootout, converting five of their six kicks to edge Starlet, who scored four from six attempts.
Speaking at the event, Dr Taiwo Afolabi, Group Executive Chairman of SIFAX Group, who was accompanied to the event by his wife, Mrs. Folashade Afolabi, reflected on the tournament’s journey over the past decade and expressed satisfaction with its contribution to youth development through sport.
He recalled his own playing days as a young man and explained that the competition began as a modest football fixture tied to his birthday before evolving into a structured platform designed to identify, nurture and support young talent.
Afolabi noted that the tournament was established to create opportunities for young people to channel their energy productively, develop discipline and gain exposure that could shape their future careers.
“We need to encourage the youth, because without encouraging them, they cannot be successful.
“Young, talented football players like the one featured in this tournament require consistent guidance, mentorship and platforms that help them build their skills and confidence, as well as assist them to remain focused so as to fulfil their potential, both on and off the pitch,” he said.
Lagos State Grassroots Soccer Association also commended Afolabi and SIFAX Group for sustaining the competition over the last ten years and highlighted the positive impact the tournament has had on youth football development across Lagos State.
The association’s Secretary, Mr Aliyu Ganiyu, said the tournament has provided numerous players with opportunities to showcase their abilities, with several participants from previous editions progressing to play professionally in Nigeria and abroad.
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