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Opinion

Federal government increases electricity tariff from N68/KwH to N225

The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in the electricity cost to N225 ($0.15) per kilowatt-hour from N68. This is a 300 percent increase that takes effect on April 1, 2024.

However, it will be limited to urban consumers, commonly known as Band A consumers in the country.

The Vice Chairman of NERC, Musiliu Oseni, made this remark in Abuja.

As a result, power distribution firms (DisCos) are permitted to boost electricity tariffs to N225 ($0.15) per kilowatt-hour beginning April 1.

Oseni further stated that the rate rise will effect only 15% of the country’s electrical subscribers.

Oseni also revealed that the 15 percent customers consume 40 percent of the nation’s electricity.

NERC Service-Based Tariff, SBT, scheme classifies consumers based on the number of hours of electricity supply per day.

SBT, introduced on the 1st of November 2020, classifies consumers into Bands A to E as follows:

We will bring you more details on the current electricity tariff hike as they come.

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