Nigeria’s electricity distribution companies (DisCos) have announced an upward review of electricity tariffs for Band A customers, effective July 1.
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The tariff has been increased from N206.80/kWh to N209.50/kWh, affecting 15% of the country’s electricity consumers who account for 40% of the nation’s power consumption.
The Nigerian Electricity Regulatory Commission (NERC) approved the tariff increase, citing key economic indices such as exchange rate fluctuations, inflation, available generation capacity, and gas costs as necessitating factors.
Francis Agoha, Acting Managing Director of Ibadan Electricity Distribution Company Plc, explained that these factors significantly impacted operational costs, and the new tariff aims to mitigate financial pressures while maintaining high-quality services.
According to Agoha, “We remain committed to providing reliable and efficient electricity services to all our customers across different bands. We understand that any change in tariffs can be a concern for our customers, and we assure you that this adjustment is necessary to maintain and improve the quality of our services. Our goal is to ensure that you receive the best possible value for your money.”
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This increase follows a previous tariff hike in April, where NERC raised the electricity tariff for Band A customers from N68/kWh to N225/kWh, a 240% increase.
The recent reduction in May from N225/kWh to N206.80/kWh temporarily alleviated some pressure but has now been superseded by this latest increase.
