The Nigerian Electricity Regulatory Commission (NERC) has announced a sudden increase in electricity tariffs effective Wednesday, April 3.
With Nigerians still grappling with the current economic hardship caused by the removal of fuel subsidy, public affairs analyst had tried to dissuade the electricity regulatory body from hiking the electricity tariff.
Addressing reporters in Abuja, NERC’s Vice Chairman, Musiliu Oseni, revealed that the escalated rates would impact only 15% of consumers, who collectively consume 40% of the nation’s electricity.
This decision follows NERC’s earlier statement in January, projecting a staggering N1.6 trillion subsidy from the Nigerian government to support electricity costs in 2024.
Chairing the unveiling of the new tariff plan, NERC’s Chairperson, Sanusi Garba, emphasized its necessity for investors to recoup operating expenses.
“The order aims to ensure fair pricing for consumers amid the cost-of-living crisis, preventing undue burden on them while enabling DisCos to maintain viable operations,” Garba stated.
He underscored that the order mandates DisCos to set tariffs conducive to sustaining their operations, maintaining transparency in rates to foster consumer confidence.
