The Federal Government of Nigeria has announced a significant hike in electricity tariffs for Band A customers, who are defined as those enjoying uninterrupted power supply for 20 hours per day.
This announcement came during a press briefing held in Abuja on Wednesday, where Musliu Oseni, the Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), addressed the media.
According to Oseni, the new tariff adjustment will result in Band A customers paying ₦225 per kilowatt-hour, a substantial increase from the previous rate of ₦66. This adjustment is set to affect approximately 15 percent of the country’s 12 million electricity consumers who fall under the Band A category.
The rationale behind the tariff adjustment, as explained by Oseni, is to ensure a fair and sustainable pricing structure that reflects the actual cost of providing electricity services. He emphasized that such measures are essential for maintaining the viability of the electricity sector and attracting much-needed investments for infrastructure development.
Additionally, Oseni revealed that as part of the tariff adjustment process, some customers previously classified under Band A have been downgraded to Band B due to their failure to meet the required hours of electricity supply provided by the distribution companies.
