The uncertainty surrounding the proposal has generated concerns among consumers and key institutions in the industry.
On 25 June, Daily Trust reported that DisCos, in a note to their customers, had informed of an increase in electricity tariff effective 1 July.
“For customers with a prepaid meter, we encourage you to consider purchasing bulk energy units before the end of this month as this will allow you to take advantage of the current rates and potentially make savings before the new tariffs come into effect. For those on post-paid billing, a significant increment is imminent in your monthly billing, starting from August,”IKEDC and EKEDC were also reported to have released similar press statements.
“The process is ongoing and cannot be communicated until completed. Whatever is being publicised now are mere speculations because you don’t speak mid-way through a process; the review could turn out to be a reduction in tariff or increment, no one knows for sure,” the official said. Since he assumed office on 29 May, President Bola Tinubu has seen the implementation of major economic policies that have affected purchasing power. Although long sought by investors, experts and global development organisations, many Nigerians have had a hard time coping with the ripple effect of the policies.
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