The federal government on Wednesday jerked electricity tariff from N68 to N225 ($0.15)/ per KwH for energy users that enjoy 20-hour electricity supply.
The government through the Nigerian Electricity Regulatory Commission (NERC) 300 per cent electricity tariff, effective April 1, 2024, for Band A consumers in Nigeria.
Vice chairman of NERC, Musiliu Oseni disclosed this at a Press Conference in Abuja where he clarified that the new rate is for
for urban consumers.
The NERC official also stated that these customers, who represent 15 per cent of the population, also consume 40 per cent of the nation’s electricity traffic, which recorded a major hike in tariff in 2020.
Before the tariff increase is expected the government spends about N3.3 trillion as subsidy on electricity.
More to come….
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