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 percent 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 electricity tariff to N225 ($0.15) per kilowatt-hour from April 1.
Also, Oseni clarified that the rate increase will only affect 15 percent of the electricity customers in the country.
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Oseni also revealed that the 15 percent customers consume 40 percent of the nation’s electricity.
Band A
NERC Service-Based Tariff, SBT, scheme classifies consumers based on the number of hours of electricity supply per day.
SBT, introduced on the 1st of November 2020, classifies consumers into Bands A to E as follows:
Band A: Minimum of 20 Hours
Band B: Minimum of 16 Hours
Band C: Minimum of 12 Hours
Band D: Minimum of 8 Hours
Band E: Minimum of 4 Hours
We will bring you more details on the current electricity tariff hike as they come.
