Nigerian Electricity Regulatory Authority Announces New Tariffs to Boost Infrastructure
In a bid to bolster the nation’s transmission infrastructure, the Nigerian Electricity Regulatory Commission (NERC) has unveiled a new electricity tariff affecting approximately 15% of its customer base. Effective immediately, the tariff adjustment will see electricity prices surge from N68 to N225 per kilowatt-hour for select consumers.
The announcement was made by Musiliu Oseni, Vice Chairman of the Market Competition Rate, during a press briefing held on Wednesday. Oseni clarified that the tariff revision would solely impact less than 15% of the customer population within NERC, specifically targeting consumers enjoying an average of 20 hours of electricity supply.
Elaborating on the rationale behind the tariff adjustment, Oseni emphasized the disparities in infrastructure quality across various locations within NERC’s jurisdiction. While certain areas boast robust infrastructure capable of delivering consistent power supply without necessitating additional investment, others require significant upgrades to enhance service quality.
“The customers that are going to be affected are those living in locations where no investment is required to meet the 20-hour service,” Oseni explained. “This constitutes less than 15% of the customer population.”
The move underscores NERC’s commitment to prioritizing infrastructure development and ensuring equitable access to reliable electricity supply across the nation. By reallocating the additional revenue generated from higher tariffs towards enhancing transmission infrastructure, NERC aims to address existing disparities and pave the way for improved service delivery.
As stakeholders digest the implications of the tariff adjustment, NERC remains steadfast in its commitment to fostering a sustainable energy ecosystem that meets the evolving needs of consumers while driving socio-economic development nationwide.
