Tag: Electricity
Nigerians Spent N16.5 Trillion on Fuel and Generators in 2023, Says Federal Government
Abuja, Nigeria — In 2023, Nigerians spent a staggering N16.5 trillion on purchasing diesel, petrol, and generators for power generation, according to the Federal Government. This expenditure, primarily driven by the need for self-generated power, starkly contrasts with the formal power sector’s total revenue of N1 trillion for the same year. Minister of Power Adebayo…
NERC Directs DisCos to Clarify New Tariff Implementation
In response to the April 2024 Supplementary Multi-Year Tariff Order, the Nigerian Electricity Regulatory Commission (NERC) has issued a directive to all Electricity Distribution Companies (DisCos) aimed at ensuring clarity and fairness in the implementation process. The directive mandates DisCos to take the following actions: This directive underscores NERC’s commitment to ensuring equitable practices within…
NERC Fines AEDC ₦200 Million for Violation of Tariff Order, Orders Customer Refunds
In a bid to enforce compliance with regulatory measures and uphold consumer rights, the Nigerian Electricity Regulatory Commission (NERC) has levied a hefty fine of ₦200 million against the Abuja Electricity Distribution Plc (AEDC). The sanction comes as a consequence of AEDC’s failure to adhere to the Supplementary Order to the April 2024 Multi-Year Tariff…
Manufacturers and Labour Oppose Government’s Electricity Tariff Hike
Manufacturers and organized labor unions have expressed vehement opposition to the Federal Government’s recent decision to increase electricity tariffs by a staggering 240 percent for consumers receiving a 20-hour power supply. The move has sparked concerns about the potential impact on businesses, inflation rates, and the welfare of citizens. The decision to remove the electricity…
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…
FG Announces Rise in Electricity Tariff
In a significant development, the Nigerian Electricity Regulatory Commission (NERC) has approved an increase in electricity tariffs for customers falling under the Band A category. The decision was unveiled during a press briefing held in Abuja on Wednesday, with the Vice Chairman of NERC, Musliu Oseni, making the announcement. Effective immediately, customers in the Band…
Electricity Distribution Companies Generate N1 Trillion Amidst Metering Challenges
Despite facing significant challenges in power supply and metering, electricity distribution companies (DisCos) in Nigeria have reported a staggering revenue of N1 trillion. This revelation comes as millions of customers across the country continue to lack access to meters, exacerbating the issues surrounding billing accuracy and transparency. According to the latest figures released by the…