NERC Increases Electricity Tariff by 300 Percent

The Nigerian Electricity Regulatory Commission (NERC) has approved an increase of 300 per cent electricity tariff for Band A consumers in the country.

This was made known by the Vice chairman of NERC, Musiliu Oseni in Abuja on Wednesday stating that the increase will affect only 15 percent customers who also consumes 40 percent of the nation’s electricity.

He revealed that 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.

“We currently have 800 feeders that are categorised as Band A, but it will now be reduced to under 500. This means that 17 percent now qualify as Band A feeders. These feeders only service 15 percent of total electricity customers connected to the feeders.

“The commission has issued an order which is titled April supplementary order and the commission allows a 235 kilowatt per hour.”