BREAKING: FG Increases Electricity Tariff Across Board

The federal government has increased electricity tariff across the board.

CityNews Nigeria reports that the federal government has increased electricity tariff through the Nigerian Electricity Regulatory Commission (NERC).

This online platform learnt that the agency has approved a new increase of over 50 per cent for consumers nationwide, barely two months after hike in electricity tariff.

When Is The New Electricity Tariff Taking Effect?

A report filed by Daily Trust, said a revised Multi Year Tariff Order, MYTO, signed by the chairman of NERC, Sanusi Garba, on December 30, 2020, and sighted Tuesday, revealed that the new tariff increase took effect on January 1, 2021, and supersedes the previous Order NERC/2028/2020.

The revised Service Based Tariff, SBT, also saw increase in the rates payable by all classes of electricity users unlike the one of November 2020, that exempted low power getters. This is effective till June 2021 while a Cost Reflective Tariff, CRT, expected to raise the new cost higher will be activated from June to December 2021, the NERC Order revealed.

Let us recall that the NERC had raised tariff for the 11 DisCos in the country in September, drawing outrages from customers and the organised labour but the federal government therefore ordered the suspension of the decision in view of the economic hardship occasioned by COVID-19 pandemic.