Ikeja Electricity Distribution Company (IE) has announced that the price of meters sold to customers under the meter asset provider (MAP) scheme has been reviewed upward effective June 1.

In a notice published on Twitter, the electricity distribution company said the review is in compliance with a directive by the Nigerian Electricity Regulatory Commission (NERC).

It said the review was to reflect the recent changes in foreign exchange rate by the Central Bank of Nigeria (CBN).

The DisCo said customers will now pay N89,063.33 (value-added tax inclusive) for a three-phase meter compared to the former cost of N72,085.68 which translates to a 19. 6 percent increase.

It said single-phase meter had risen to N48,263.37 (VAT inclusive), a 17.6 per cent increment from the former price of N39, 765.86.