Ikeja Electric
By Oba Ayomi
Ikeja Electric has announced new prepaid meter prices effective August 6, 2025, covering single-phase and three-phase meter types, inclusive of VAT. The prices are valid subject to meter availability, and the company aims to keep customers informed about meter procurement and ensure transparency in the purchase process.
The new prices are as follows ¹:
– *MBH Power Ltd*: Single-phase meters cost ₦135,987.50, while three-phase meters cost ₦226,825.00.
– *Turbo Energy Ltd*: Single-phase meters cost ₦145,608.75, and three-phase meters cost ₦236,903.13.
– *Aries Electric Ltd*: Single-phase meters cost ₦145,125.00, and three-phase meters cost ₦258,000.00.
– *Mojec Asset Management Company Ltd*: Single-phase meters cost ₦135,718.75, and three-phase meters cost ₦226,825.00.
– *Paktim Metering Nig. Ltd*: Single-phase meters cost ₦137,600.00, and three-phase meters cost ₦233,275.00.
– *Holley Metering Ltd*: Single-phase meters cost ₦133,854.03, and three-phase meters cost ₦219,497.09.
– *CIG Metering Assets Nigeria Ltd*: Single-phase meters cost ₦150,500.00.
– *New Hampshire Capital Ltd*: Single-phase meters cost ₦133,300.00, and three-phase meters cost ₦231,125.00.
The price adjustment reflects current market dynamics, considering factors like foreign exchange volatility and inflation. Industry experts note that the metering sector in Nigeria is evolving, with prepaid meters providing transparency in energy consumption and eliminating estimated billing. However, consumers have expressed concerns about the rising costs, demanding improved service quality and reliability.
The Federal Competition and Consumer Protection Commission (FCCPC) has taken note of consumer dissatisfaction and directed Ikeja Electric to comply with NERC’s regulations on metering, emphasizing that meter replacement costs should be borne by the distribution companies, not consumers.
