For the third time in four months, the Nigerian Electricity Regulatory Commission (NERC) has approved another increase in electricity tariffs for customers on Band A. Effective Monday, the new tariff is set at N209.50 per kWh, up from N206.80 per kWh.
Distribution Companies (DisCos) have begun notifying electricity users of the hike. The Ibadan Electricity Distribution Company (IBEDC) Plc issued a statement on Tuesday, confirming the adjustment: “Effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh. This review has been duly approved by NERC as captured in the multi-year tariff supplementary order.”
The statement, signed by IBEDC Acting Managing Director Francis Agoha, clarified that the increase applies only to Band A customers. The tariffs for Bands B, C, D, and E remain unchanged.
IBEDC explained that the adjustment was necessitated by several key economic factors, including fluctuations in the exchange rate, the inflation rate, available generation capacity, and the cost of gas. “While we understand that any change in tariffs can be of concern to customers, these adjustments are essential to ensure continued service delivery and reflect the current economic realities,” Agoha stated.
This latest tariff hike underscores the ongoing challenges within Nigeria’s electricity sector, as the country grapples with balancing economic pressures and the need for reliable power supply.
