Nigerians to pay 7.5% VAT on electricity meters – Eko Electricity Distribution Company (EKEDC) has said from February 1, the prices of meters under the Meter Asset Provider (MAP) scheme will be reviewed to reflect the increase in Value Added Tax (VAT) recently implemented by the Federal Government.
Its Corporate Communications General Manager Godwin Idemudia told reporters that the review was in compliance with the Federal Government’s directive, which would see an increase in value added taxes from five per cent to 7.5 per cent from the first day of February.
He further stated that customers would pay N39,765.86 (VAT inclusive) for a single-phase meter and N72,085.68 (VAT inclusive) for a three-phase meter.
The statement also disclosed that VAT on tariffs had been adjusted to accommodate the new 7.5 per cent rate, and service charges on instalmental meter payments through MAP would be reviewed to accommodate the new VAT charge.
Idemudia praised customers for their support and urged them to pay bills promptly, as these are the major source of funding for projects underway to improve service delivery in their network.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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