NERC Approves Significant Increase in Electricity Tariff for Band A Customers. The implications for Nigerians.
The Nigerian Electricity Regulatory Commission (NERC) has given its nod to a substantial increase in electricity tariff for customers falling under Band A.
This announcement was made by NERC’s Vice Chairman, Musliu Oseni, during a press briefing held in Abuja on Wednesday, April 3, 2024.
Oseni revealed that the approved increase would see customers in Band A paying N225 per kilowatt-hour, a sharp rise from the current rate of N66. This translates to a staggering 240.91% increase in tariff.
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Electricity Tariff Increased to N225
Customers falling under Band A are those who currently benefit from 20 hours of electricity supply daily, signifying a higher level of service compared to other consumer categories.
According to Oseni, these customers constitute approximately 15 percent of the total 12 million electricity consumers across the country.
The commission has issued an order titled April supplementary order, and the commission allows a 235 kilowatt-hour,” Oseni stated.
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The decision to implement such a significant tariff increase is likely to have widespread implications for consumers in Band A, who will now face substantially higher electricity bills. This move comes amidst ongoing efforts by the government and regulatory authorities to address the challenges facing the electricity sector, including revenue shortfalls and infrastructure maintenance.
As consumers brace themselves for the impact of the tariff hike, there may be increased scrutiny and calls for transparency regarding how the additional revenue generated will be utilized to improve service delivery and address the longstanding issues plaguing the electricity sector.
Electricity Tariff Hike: Understanding the Impact on Nigerians
The recent increase in electricity tariffs has significant implications for consumers across Nigeria. Under the new adjustments, individuals currently paying ₦14,000 will see their bills rise to ₦47,818, while those paying ₦25,000 will experience an increase to ₦85,228.
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