Mr Oseni said the new rate will be imposed only on consumers, who represent 15 per cent of the population but consume 40 per cent of the nation’s electricity.
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The official said the Band A consumers represent 15 per cent of the population but consume 40 per cent of the nation’s electricity. “And in that order, the commission has approved a rate review of N225 per kilowatt hour for just under 15 per cent of the customer population. So that means less than 15 per cent of the customers will be affected. The commission has issued an order which is titled April Supplementary Order taking effect from today,” Mr Oseni said.
“The order seeks that prices charged by DisCos are fair to customers and are sufficient to allow DisCos to fully recover the efficient cost of operation, including a reasonable return on the capital invested in the business in accordance with section 116 of the Electricity Act 2023,” Mr Garba said. Speaking on electricity subsidy, he said countries like Ghana, Togo, and Benin Republic pay much more than Nigeria for electricity while noting that the government might not be able to continue funding electricity subsidies.
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