Just In : FG hikes Electricity Tariff by 50%

The federal government has approved an increase in electricity tariff across the country.

The increment was announced through the Nigerian Electricity Regulatory Commission (NERC).

 A directive issued on December 31, 2020, and signed by Sanusi Garba, NERC chairman, noted that the new tariff will take effect from January 1.

The commission stated that the new tariff will be enforced until the issuance of another minor review order or an extraordinary tariff review order by the commission.

The NERC said some of the indices considered for the upward review include Nigeria’s inflation rate, exchange rate, US rate of inflation, available generation capacity, gas price, MDA losses and capex adjustment.