The Nigerian Electricity Regulatory Commission (NERC) has announced an increase in electricity tariff for customers receiving 20 hours of electricity supply daily. Concerns have been raised by Nigerians over the review.
, said customers under the classification, who receive 20 hours of electricity supply daily, will pay N225 per kilowatt , starting from April 3 — up from N66.Since the development, some Nigerians have raised concerns and worries over the review.reduce the electricity subsidy for 2024 by
“This has been determined by adding a 1% transaction cost to the average foreign exchange rate of N1,448.82 during the period of 19th 25th March 2024 as obtained from the website of the Central Bank of Nigeria in line with the MYTO methodology,” the DisCos said.“The inflation rate of 31.70% for February 2024 as published by the National Bureau of Statistics is applied to revise the Nigerian inflation rate projection for 2024,” the report added., the US inflation rate of 3.
Also, Eko Electricity Distribution used 513MWh/h, Enugu Electricity Distribution Company used 268MWh/h, and Benin Electricity Distribution Company used 325MWh/h.A day before the hike, the Nigerian Midstream and Downstream Petroleum Regulatory Authority in line with Section 167 of the Petroleum Industry Act 2021 established a new benchmark.The price surged by 11 percent, from $2.18 per million British thermal units to $2.42/MMBTU.
Also, where the DisCo fails to meet the committed service level to a Band A feeder for seven consecutive days, the feeder shall be automatically downgraded to the recorded level of supply in accordance with the applicable framework. Umar also said DisCos will now “be held accountable by people paying and they will be forced to improve supply which will earn them more liquidity to fund the upgrade of other band B feeders to band A and this will also improve overall liquidity in the value chain”.
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