Reports coming in indicate that the Nigerian Electricity Regulatory Commission (NERC) has approved the increase of electricity tariff for customers under the Band A classification.
NERC’s Vice Chairman, Musliu Oseni, who revealed this at a press briefing in Abuja on Wednesday, 3 April 2024 stated that the increase will see the customers pay N225 kilowatt per hour from the current N66.
It was gathered that the customers under Band A are those who enjoy 20 hours of electricity supply daily.
The NERC’s Vice Chairman, maintained that these customers represents 15 percent of the 12 million electricity customers in the country.
He noted that the commission had also downgraded some customers on the Band A to Band B due to non-fulfilment of the required hours of electricity provided by the electricity distribution company.
He added, “We currently have 800 feeders that are categorised as Band A, but it will now be reduced to under 500. This means that 17 percent now qualify as Band A feeders. These feeders only service 15 percent of total electricity customers connected to the feeders.
“The commission has issued an order which is titled April supplementary order and the commission allows a 235 kilowatt per hour.”
Oseni stated that the review will not affect customers on the other Bands.
Recall that media reports had on Tuesday 2 April disclosed that power companies will be allowed to raise electricity prices to N200 ($0.15) per kilowatt-hour from N68 for urban consumers.
It cited individuals 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 (subsidies).
Meanwhile, this development is coming amid Monday’s announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of an increase in the price of natural gas, which is used to generate more than 70% of electricity in Nigeria.
