The Nigerian Electricity Regulatory Commission (NERC) has approved an increase of 300 per cent electricity tariff for Band A consumers in the country.
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.
Vice chairman of NERC, Musiliu Oseni, who made this announcement in Abuja, however, clarified 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.
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