Approval for the reduction of electricity tariff for Band A customers was given by the Nigerian Electricity Regulatory Commission, NERC, citing improved exchange rates.
In a release on Monday, NERC noted its analysis of changes in the macroeconomic parameters during the preceding month of April 2024.
The Commission stated, “Following the tariff methodology set by the Nigerian Electricity Regulatory Commission, a revised tariff order for the month of May 2024 has been dispatched to the eleven (11) electricity distribution firms.”
“Taking into account alterations in the macroeconomic parameters from the prior month of April 2024, along with the strengthened exchange rates, the Commission has sanctioned a decrease in end-user tariffs for Band “A” customers from NGN225/kWh to NGN206.8/kWh,” it continued.
“The Commission reiterates its dedication to upholding a just and efficient regulatory framework that serves the requirements of the Nigerian Electricity Supply Industry.”