A 300 per cent electricity tariff increase has been approved for Band A consumers across Nigeria country by the Nigerian Electricity Regulatory Commission (NERC).
Musiliu Oseni, Vice chairman of NERC, made the announcement Wednesday aafternoon in Abuja.
He stated that beginning April 1, 2024, power distribution companies (DisCos) will be permitted to increase the price of electricity for urban consumers from N68 to ₦225 ($0.15) per kilowatt-hour.
However, he explained that the increase will only affect 15 per cent of the electricity customers in the country, which, according to him consume 40 per cent of the nation’s electricity.
“We currently have 800 feeders that are categorised as Band A, but upon reviewing those feeders’ performance, the Commission has now reduced it to under 500. This means that 17% now qualify as Band A feeders. These feeders only service 15% of total electricity customers connected to the feeders.
He further stated that the commission has moved some Band A customers to Band B due to failure to meet the necessary electricity supply hours.
He, however, said that the review would not impact customers in the other Bands.
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