JUST IN!!! Nigerian govt announces increase in electricity tariff

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The Nigerian Electricity Regulatory Commission, NERC, has announced the decision to increase the electricity tariffs for customers in the Band A category.

Speaking during a press briefing in Abuja on Wednesday, the Vice Chairman of NERC, Musliu Oseni, announced that there will be a significant increase in electricity rates.

This adjustment will result in customers paying N225 per kilowatt-hour, up from the current rate of N66.

The statement reads:

“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.”