The Federal Government has revealed that some rural communities in Nigeria are paying higher electricity tariffs than urban...
Residents of Sokoto, Kebbi, and Zamfara states have expressed deep concern over the recent hikes in electricity and telecommunication tariffs, urging the government, service providers, and relevant authorities to urgently review and reduce the rates.
Nigeria’s electricity tariffs are expected to rise in the coming months as the government works toward transitioning to a cost-efficient, cost-reflective pricing model.
Aba Power, a prominent electricity distribution company operating in Abia State, has announced a significant increase in electricity tariffs, with rates rising by over 50%.
Power distribution companies (DisCos) in Nigeria face billions in collection losses asmanufacturers in the country decide to pay the old tariff rates instead of the new rates approved by industry regulator.
The National Labour Congress (NLC) has instructed its members across the country to picket the offices of the Nigerian Electricity Regulatory Commission (NERC) and the power distribution companies (DisCos) on Monday due to the recent hike in electricity tariffs for Band A customers.
Mr. Olabode Sowunmi, CEO of Cabtree Limited and Chairman of the Hydrogen and New Energy Committee of the Nigerian Gas Association, has announced the need for Nigerians to set aside political considerations and confront the reality that Nigerian power sector is operating at a significant loss.
It was learnt last week that the drivers of the new power tariffs in Nigeria are the exchange rate of the Naira to the US dollar and inflation.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has set a new 2024 base gas price for companies in the power sector and commercial users.
The International Monetary Fund (IMF) has warned that price caps on fuel and electricity tariffs below the cost recovery could result in a fiscal cost amounting to 3% of GDP in 2024.
The cost of running diesel generators in Nigeria is four times the cost of electricity tariff per kilowatt hour.
Honorable Aliyu Madaki moved the motion to reject the increase, which would create an additional cost burden on Nigerians who are already feeling the burden of the rise in food prices, transportation costs as well as an inflation rate of 22.79%.
