FG hikes electricity tariff from N68/KwH to N225.

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The Nigerian Electricity Regulatory Commission, NERC, has approved an increase of electricity tariff to N225 ($0.15) per kilowatt-hour from N68. This is a 300 per cent hike and takes effect from April 1, 2024.

However, it will be for urban consumers, also known as Band A consumers in the country.

The Vice Chairman of NERC, Musiliu Oseni, made this announcement in Abuja

Accordingly, power distribution companies, DisCos, are allowed to raise the electricity tariff to N225 ($0.15) per kilowatt-hour from April 1. Also, Oseni clarified that the rate increase will only affect 15 per cent of the electricity customers in the country. Oseni also revealed that 15 per cent of customers consume 40 per cent of the nation’s electricity.

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