What you must know about new Electricity Tariff hike in Nigeria

Following the Nigerian Electricity Regulatory Commission’s approval of a 25% electricity tariff hike on Wednesday, ZINGTIE explains what Nigerians should know about the increase.

Recall that Nigerian “Band A” electricity customers were given NERC approval at a rate of N225 per kW.

In light of the country’s ongoing epileptic power supply, the development marks a substantial departure from electricity subsidy in the Nigerian Electricity Supply Industry.

Consumers Affected by the Increase

According to NERC, only Band A customers obtained power supply from the eleven electricity distribution firms for a minimum of 20 hours.

As per Musiliu Oseni, the Vice Chairman of NERC, the affected percentage of Nigeria’s 12.12 million electricity customers is merely 15%.

He clarified that the tariff hike would not impact customers with fewer than 20 hours of power supply on B, C, D, and E.

What the New Electricity Tariff Means

According to the hike, Band A electricity customers will have to pay 250 percent more for a power supply.

Customers in Band A will see a complete removal of the electricity subsidy.

BAND Fifteen percent of Nigerian families in urban areas have customers.

40% of the nation’s electricity is consumed by Band A customers, according to NERC.

The impacted customers’ electricity supply won’t get any better due to the hike, either.

Date of hike commencement

As per the updated tariff ruling, Discos started enforcing the new electricity tariff from Wednesday, April 3, 2024.

This indicates that Band A customers have started paying 300 percent more for electricity.

Meanwhile, Nigerian customers in all bands have had an epileptic power supply since January 2024.

Adebayo Adelabu, Nigeria’s Minister of Power, attributed Nigeria’s unpredictable power supply on gas shortages.

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