7.5 percent VAT: Abuja Disco announces commencement date

The Abuja Electricity Distribution Company (AEDC) says it will commence the implementation of the 7.5 percent Value Added Tax (VAT) on its services and cost of meter under the Meter Assert Programme (MAP) from February 1.

Mr Oyebode Fadipe, AEDC’s General Manager Corporate Communications, made this known in a statement in Abuja on Wednesday.

Fadipe said that the directive was in compliance with the Federal Government directive on VAT.

He said: “Please be informed that the new VAT of 7.5 per cent will from February 1 be reflected in all our services, electricity bill and cost of meter under MAP.

“Customers are to note that VAT is only applied on the aggregate cost of energy consumed by the customer per time and the cost of the meter, and not an increase in the unit cost of electricity or meter.

According to him, single phase meter which cost N36, 991.50 will be N39,765.86 with VAT addition of N2,774.56.

He said that three phase meter which is N67,055.85 would cost N72, 085.04 with VAT addition of N5, 029.19.

President Muhammadu Buhari recently signed the Finance Bill into law.