The Nigerian Electricity Regulatory Commission (NERC) has approved an increase of 300 per cent electricity tariff for Band A consumers in the country.
With the increase, customers will now pay N225 ($0.15) per kilowatt-hour as against N68 previously.
Accordingly, power distribution companies (DisCos) will be allowed to raise electricity prices to N225 ($0.15) per kilowatt-hour from N68 for urban consumers this month effectively from April 1, 2024
This was disclosed by the Vice chairman of NERC, Musiliu Oseni, in Abuja, on Wednesday, April 3.
He said that the rate increase will only affect 15 per cent of the electricity customers in the country.
Oseni also revealed that these customers, who represent 15 per cent of the population, also consume 40 per cent of the nation’s electricity.
