The Nigerian energy Regulatory Commission (NERC) has authorized a 300 percent rise in the nation’s Band A energy tariff.
As a result, power distribution companies (DisCos) are permitted to increase the cost of electricity for urban consumers this month from N68 to N225 ($0.15) per kilowatt-hour, with effect from April 1, 2024.
However, Musiliu Oseni, vice chairman of NERC, made it clear that just 15% of the nation’s energy consumers would be impacted by the rate rise when he made this announcement in Abuja.
Oseni further disclosed that these clients, who account for 15% of the population, use 40% of the country’s electricity.