May 30, 2024

Nigeria cuts band A electricity tariff to N206/kwh


Ilenre Irele

The Federal Government on Monday gave a nod to a downward review in electricity tariff for Band A customers from 225 per kilowatts hour, kwh, to 206.8/kwh.
The new tariff, which takes immediate effect, according to the Nigerian Electricity Regulatory Commission, NERC, was due to the appreciation of the Naira in the official foreign exchange window.
Band A customers are electricity consumers with minimum supply of 20 hours per day.
NERC, on its official X handle, said: “Pursuant to the tariff methodology adopted by the Nigerian Electricity Regulatory Commission, a revised tariff order covering the month of May 2024 has been issued by the Commission to the eleven electricity distribution companies.
“The Commission has considered changes in the macroeconomic parameters over the preceding month of April 2024 and especially the appreciation of exchange rates – consequently the Commission has approved a downward review of end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh.
“The Commission reaffirms its commitment to providing a balanced and effective regulatory regime serving the needs of the Nigerian Electricity Supply Industry.”
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