The fall in the value of naira following the currency’s
recent devaluation by the Central Bank of Nigeria has made prices of
electricity meters in the country to increase. A single meter that usually goes
for N25,000 is now N39,375 while a three-phase meter which was N50,000 is now
N60,909. Marketers say the price increase was because most of the meters in the
Nigerian electricity market were imported and the exchange rate of naira to
dollar has been posing a huge problem to importers.
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