The Nigerian Electricity Regulatory Commission (NERC) has ordered an immediate upward review of electricity tariffs in the country from Wednesday 3 April.
The NERC Vice Chairman, Musiliu Oseni, disclosed this while speaking at a press conference in Abuja on Wednesday.
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.
NERC had, in January, said that the Nigerian government will pay as much as N1.6 trillion to subsidise electricity in the year 2024.
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Unveiling a new electricity tariff plan payable by electricity consumers in the country at the time, the Chairperson of the NERC, Sanusi Garba, said the order states appropriate tariffs that consumers should pay for investors to recover their operating costs.
