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Tag: Electricity Tariff

NERC considers increase of prepaid meters
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Electricity tariff to increase as DisCos demand review

The 11 power distribution firms in Nigeria have requested a review of their varied electricity tariff, according to a statement released by the federal government on Thursday. This was done in order to take into account changes in the macroeconomic parameters across the country. The Nigeria Electricity Regulatory Commission published a notice that made this […]

Manufacturers warn price hikes to persist without solutions
News

Why manufacturers invested N144bn in alternative energy sources – MAN

The Manufacturers Association of Nigeria has stated that the cost of accessing alternative energy sources increased by 87% between 2021 and 2022, from N77.22 billion to N144.5 billion spent by its members. The News Agency of Nigeria reported that this is because the association has protested against the anticipated hike in electricity rates that will take […]

FG owes N100bn electricity bill debt - Distributors
Electricity

New electricity tariff to begin July 1 — Report

Electricity tariff is set to increase by over 40 per cent in the coming days, a development which may eventually end all forms of energy subsidy in the country.   According to Guardian, the hike is expected to kick off from July 1, in spite of the government’s monthly subsidy of about N50 billion in […]

FG owes N100bn electricity bill debt - Distributors
Electricity

Electricity: SERAP sues Buhari over tariff hike

Oluwanifemi Ojo     The Socio-Economic Rights and Accountability Project has filed a lawsuit against the President, Major General Muhammadu Buhari(retd.), over “the failure to reverse the unlawful, unjust, and unreasonable increase in electricity tariff, and to probe the spending of public funds as ‘investments and bailouts’ to DisCos and GenCos since 2005.”   Attorney-General […]

Electricity

FG suspends N500bn electricity subsidy, tariff surge by 58%

Findings have shown that electricity tariffs increased by 58 per cent after the Federal Government yanked off a yearly subsidy of N500bn to the power sector. Documents obtained by Newsmen showed that the subsidy was removed in 2020, leading the Nigerian Electricity Regulatory Commission to equally increase tariffs from N31/kWh to N49/kWh starting from last […]

Electricity

No increment in electricity tariffs – NERC

The Nigerian Electricity Regulatory Commission, NERC has clarified that reviews do not automatically translate into an increase in electricity tariffs. The electricity market regulator made this known in a statement titled ‘Notice of Compliance in Respect of the Biannual Review of the Revenue Requirements of Licenses’ published on Tuesday. According to the NERC, where the […]