News
FG Announces Upward Adjustment In Electricity Tariffs
In a significant development, the Nigerian Electricity Regulatory Commission (NERC) has decreed an immediate revision in electricity tariffs effective as of Wednesday, April 3.
NERC Vice Chairman, Musiliu Oseni, announced this directive during a press briefing held in Abuja on Wednesday.
Oseni specified that the revised rates would only impact Band A customers, comprising 15 percent of the population, who receive an average daily electricity supply of 20 hours or more.
In NERC’s January report, it was revealed that the Federal Government would spend up to N1.6 trillion in 2024 to subsidize electricity.
The Chairperson of the NERC, Sanusi Garba, revealed a new plan for power rates that customers in the nation would have to pay. Garba stated that the order specifies the proper tariffs that consumers must pay in order for investors to recover their operational expenses.
He said: “The order seeks that prices charged by DisCos are fair to customers and are sufficient to allow DisCos to fully recover the efficient cost of operation, including a reasonable return on the capital invested in the business in accordance with section 116 of the Electricity Act 2023.”
Further details will be provided later.
Osun 2026: Political Parties Sign Peace, Accountability Charter as Stakeholders Seek Violence-Free Governorship Election
Osun: Lions Clubs Promote Environmental Hygiene, Donate Sanitation Materials to Osun Market
Osun 2026: Islamic Leaders Call for Peaceful, Violence-Free Governorship Election
BBNaija Season 11 Premieres July 26
PSC Releases List Of Successful Applicants For Recruitment Of 50,000 Police Constables
Court Reserves Judgment In Gbenga Olawepo-Hashim’s Suit Against Accord Party, INEC Over 2027 Presidential Ticket
-
News4 days agoOsun To Honour Digital Trailblazers As ONMDA 2026 Announces Maiden Awards
-
News2 days agoAPC Chieftain, Oduoye Canvasses Votes For AMBO, Says Osun Needs Competent Leadership To Achieve Its Potential
-
News5 days agoPastor Folorunso Adeniyi Installed As Patron Of Onward Christian Soldiers, C&S Oke Ayo Kajola-ijesa
-
News5 days agoAPC Leader, Asalu Of Modakeke Distributes Cash, Food Palliatives To Over 3,000 Members, Rallies Support For Oyebamiji