Cost of Prepaid Meter Drops, Ikeja Electric Releases New Prices

Ikeja Electric has announced a reduction in the prices of prepaid meters, with the new prices taking effect from August 8, 2025. The average cost of the meters has decreased, following adjustments by meter providers such as Holley Metering Ltd, Paktim Metering, Aries Electric Ltd, and Asset Management.

The changes are in line with the approved rates under the Meter Asset Provider (MAP) scheme, aimed at ensuring customers can purchase meters at regulated prices. Ikeja Electric dismissed reports of receivership following a court ruling, with the company's chief legal and regulatory officer, Babatunde Osadare, refuting the claims.

However, Muda Yusuf, CEO of the Centre for Promotion of Private Enterprise, highlighted ongoing challenges in the power sector, including flawed privatization processes and aging equipment. The Nigerian Electricity Regulatory Commission had also recently announced a reduction in electricity tariffs for customers in some states.