Recently, there have been fluctuations in the prepaid meter price in Nigeria due to the rising cost of its production material and government policies.
The first increase in the price of prepaid meters in Nigeria occurred in September 2023; the most recent price increment occurred in July 2024.
In this article on the price of prepaid meters in Nigeria, we are going to disclose the current price of prepaid meters as released by the Nigerian Electricity Regulatory Commission (NERC). So, if you want to get a prepaid meter for your property—be it a single or three-phase prepaid meter—this guide will be of help to you.
Price of Prepaid Meter in Nigeria
The price of a prepaid meter is not fixed; it varies depending on the brand and meter type. Some meter brands are more expensive than others. The three-phase prepaid meter is usually more expensive than the single-phase types.
As of July 2024, the current price of a single-phase prepaid meter in Nigeria ranges from ₦118,357.50 to ₦118,362.86, while the price for the three-phase type is between 206,722.50 and 206,737.42.
Meanwhile, as of September 2023, the price for single- and three-phase prepaid meters is ₦81,975.16 and ₦143,836.10, respectively. You can see that the price increase is very high. For single-phase meter type, there was an addition of ₦36,382 against its previous price, while for three-phase type, they added ₦62,900 to it. So, we can see that the price has increased very much.
However, when buying a prepaid meter, you should know your energy requirement to enable you to buy the suitable meter for your property. Ordinarily, single-phase prepaid meters are always more suitable for residential buildings with minimum energy requirements, while commercial areas with high energy needs normally require three-phase prepaid meters.
Conclusion
The price of a prepaid meter in Nigeria varies depending on the meter type and brand. For a single-phase prepaid meter, the price is usually between 118,357.50 and 118,362.86, while that of a three-phase meter is mostly from 206,722.50 to 206,737.42. Now that you know the price, you can then buy the meter type that is suitable for your property.