The Nigerian Electricity Regulatory Commission, NERC, has disclosed effective from 1st of April 2024 electricity tariff has increased to N225 ($0.15) per kilowatt-hour from the former N68. Giving a 300 percent hike.
Noting that this increase is specifically for urban consumers, also known as Band A consumers in the country.
Meanwhile, Musiliu Oseni, the Vice Chairman of NERC, disclosed the announcement in Abuja, adding that power distribution companies, DisCos, are allowed to raise electricity tariff to N225 ($0.15) per kilowatt-hour from April 1.
He also declared that the rate will only affect 15 percent of the Electricity customer in the country.
Oseni also revealed that the 15 percent customers consume 40 percent of the nation’s electricity.
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
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