TUE APRIL 02 2024-theGBJournal| The Nigerian Electricity Regulatory Commission (NERC) Wednesday gave the green light to distribution companies to raise electricity tariff to N225/KWh, up from N66 for customers.
The new tariff pricing takes effect from today.
The customers to pay the raise falls under the Band A category-those who currently enjoy electricity supply for up to 20 hours every day.
The move sign posts the gradual removal of subsidy on electricity by the Federal Government which it disclosed recently.
Recall that Presidential adviser, Bayo Onanuga told Reuters on recently that the government intends to cut its bill on electricity by N3.3 trillion, when it cuts off subsidy for 15 percent of consumers.
Musliu Oseni, the Vice Chairman of NERC who announced the new tariff today noted that the customers to be impacted by the new rates account for 15% of the 12 million electricity consumers in Nigeria.
He said some customers that fall within the Band A category has been moved back to Band B due to failure to meet the necessary supply hours.
800 feeders are currently categorized as Band A but reduced to under 500. ”This means that 17 percent now qualify as Band A feeders,” Oseni said.
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