FG raises electricity tariff for customers enjoying 20-hour power supply
The Nigerian Electricity Regulatory Commission has approved an increase in electricity tariff for customers under the Band A classification.
The Vice Chairman, NERC, Musliu Oseni, said the increase will see the customers paying N225 kilowatt per hour from the current N66.
PUNCH Online notes that customers under Band A are those who enjoy 20 hours of electricity supply daily.
Speaking at a press conference in Abuja on Wednesday, Oseni said customers in Band A represent a 15 per cent of the 12 million electricity customers in the country.
He added that the review will not affect customers on the other bands.
Citing sources, Bloomberg had on Tuesday reported that power companies will be allowed to raise electricity prices to N200 ($0.15) per kilowatt-hour from N68 for urban consumers.
It quoted people in the presidency with knowledge of the matter saying this was in a bid to attract new investment and slash about $2.3 billion spent to cap tariffs.
According to the news agency, “Nigerians will now have to pay $2.42 per one million British thermal units from the previous rate of $2.18 MMBtu.”
The development comes amid Monday’s announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority of an increase in the price of natural gas, which is used to generate more than 70 per cent of electricity in Nigeria.
He added that the review will not affect customers on the other bands.
Citing sources, Bloomberg had on Tuesday reported that power companies will be allowed to raise electricity prices to N200 ($0.15) per kilowatt-hour from N68 for urban consumers.
It quoted people in the presidency with knowledge of the matter saying this was in a bid to attract new investment and slash about $2.3 billion spent to cap tariffs.
According to the news agency, “Nigerians will now have to pay $2.42 per one million British thermal units from the previous rate of $2.18 MMBtu.”
The development comes amid Monday’s announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority of an increase in the price of natural gas, which is used to generate more than 70 per cent of electricity in Nigeria.
