NERC Approves Hike In Tariff By 50%

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Olayemi Oladotun
Oladotun Olayemi is a passionate writer who loves to disseminate reports on topics bordering on celebrities, lifestyle, sports and politics. An avid football lover and a trained historian.

According to reports, the Nigeria Electricity Regulatory Commission (NERC) has approved that all electricity distribution companies in the country to increase its tariffs billing by an average of 50 percent on April 1.

NERC
NERC

According  to reports, the Ikeja Electric (IE) Plc, which made this disclosure in its memo to the commission, noted that the directive is “in order to meet the tariff shortfall funding target from 2020 by the Federal Government of Nigeria.”

Also Read: Nigerians Will Enjoy Uninterrupted Electricity: NERC Chairman

According to the Chief Executive Officer of IE, Anthony Youdeowei, based on the directive, the 50 percent tariff increase is expected to raise the average tariffs from the current level of 27.30 N/kWh to 40.95 N/kWh.

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