Nigerian Electricity Distribution Companies (DisCos) have introduced a new wave of price hikes for electricity meters, marking the second increase within four months.

According to recent announcements, the cost of single-phase meters has risen from approximately N117,000 to N149,800, representing a 28.03% increase, depending on the distribution company and meter vendor.

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The changes, disclosed on the DisCos’ official X (formerly Twitter) handles, took effect on November 5, 2024.

The price hike is attributed to the Nigerian Electricity Regulatory Commission’s (NERC) recent deregulation of meter asset providers, part of a policy introduced in April 2024.

The new policy seeks to foster a more competitive metering market, where prices are now set through competitive bidding rather than being regulated, aiming to improve service delivery and pricing transparency.

Prices vary significantly across the DisCos, based on location, vendors, and meter type.

Eko DisCo’s single-phase meters range between N135,987.5 and N161,035, while three-phase meters are priced between N226,600 and N266,600.

In contrast, Abuja DisCo customers will pay between N123,130.53 and N147,812.5 for single-phase meters and N206,345.65 to N236,500 for three-phase meters.

Other DisCos, including Ibadan, Kano, and Kaduna, also announced their specific pricing tiers, showing a general trend of rising costs across the board.

The deregulation under NERC’s Metre Asset Provider (MAP) scheme is a shift away from centrally regulated and often subsidized meter pricing.

By removing these operational restrictions, NERC anticipates that the market will foster greater competition among meter providers, thereby benefiting end-users with improved quality and accountability.

However, vendors must adhere to regulatory standards to ensure service reliability.

Despite these anticipated benefits, the price hikes have sparked renewed concerns among electricity consumers.

Many are worried about the affordability and accessibility of meters, which are essential for accurate billing and efficient energy management.

With deregulation, DisCos and customers are expected to gain more flexibility to negotiate favorable deals, although the immediate impact for consumers appears to be an increase in costs.

The Nigerian electricity sector, long troubled by inefficiencies and supply issues, faces a period of adjustment under these new market dynamics.

Donald Trump’s recent election victory isn’t just putting him back in the White House; it’s also delivering a massive boost to his personal wealth.

On Wednesday, Trump Media’s stock, traded under the ticker “DJT,” soared by 35% in premarket trading, pushing the company’s valuation to around $9 billion.

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Trump holds a significant majority stake in the right-wing social media company, which, despite its limited earnings and operational losses, has experienced a meteoric rise in stock value.

This surge brings the value of Trump’s 114.75 million shares to approximately $5.3 billion—up from $3.9 billion at the close of trading on Election Day.

However, analysts caution that Trump’s new wealth figure is largely theoretical, as liquidating a large portion of his shares could send prices tumbling.

Trump Media’s stock has often been viewed as a bellwether for investor sentiment on Trump’s political prospects.

After a sharp decline in September, the stock began rebounding in late October as Trump’s odds of winning the election improved.

This trend culminated in a steep rally after his victory, with speculation among investors driving the rapid increase in value.

However, despite this financial gain, Trump Media faces significant challenges.

The company operates at a loss and will need to address financial hurdles to maintain its momentum.

Governor Dauda Lawal of Zamfara State has taken swift action to address growing complaints from civil servants, ordering an immediate suspension of all non-statutory salary deductions.

The move comes in response to widespread concerns over unauthorized deductions, particularly those linked to cooperative societies and commodity loan repayments.

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In a statement released on Wednesday, Governor Lawal’s spokesperson, Sulaiman Bala Idris, confirmed the directive, emphasizing the administration’s commitment to reforming the state’s payroll system.

“In an effort to ensure the proper management of civil servants’ salaries, Governor Dauda Lawal has ordered the cessation of all illegal and non-statutory deductions,” Idris stated.

The suspension targets deductions used for unauthorized surcharge schemes disguised as cooperative contributions and commodity loan repayments.

Governor Lawal has instructed the Commissioner for Finance to enforce the suspension and notify all relevant cooperative societies and commodity vendors immediately.

The Governor clarified that only statutory deductions, including PAYE (Pay As You Earn), union dues, NHF (National Housing Fund), ZAMCHEMA, water rates, and housing-related schemes such as FMB’s Rent-to-Own and Home Renovation programs, will remain in effect.

“The present administration is committed to supporting the welfare and development of civil servants by ensuring a fair and transparent payroll system,” the statement added, highlighting ongoing efforts to improve working conditions and foster a more productive workforce.