The Nigerian Electricity Regulatory Commission (NERC) has directed a decrease in the electricity tariff for Band A customers to N206.80 per kilowatt-hour, effective May 6th, 2024, down from the previous rate of N225/kWh.
NERC issued the 2024 Tariff Order to electricity distribution companies in Nigeria.
In a statement, the Commission attributed the adjustment to the appreciation of the naira in the official exchange window.
“Effective from May 6, 2024, Band A end-user tariffs have been reviewed to NGN206.8/ kWh under MYTO 2024. This is largely driven by the relative appreciation of exchange rate in the official foreign exchange window”.
The Commission reiterated its commitment to maintaining a balanced and effective regulatory framework that serves the needs of the Nigerian electricity supply industry.
It is worth noting that on April 30th, 2024, NERC approved an increase in the electricity tariff for customers in the Band A category to N225 per kWh from N66.
