BREAKING: Nigerian FG Increases Electricity Tariff Again, to Increase it Further in 2022

Recall that in September 2020, the Nigerian Electronic Regulatory Commission (NERC) designed a programme called the Service-Based Tariff (SBT) which will take effect in September 2021.

The SBT was implemented to stop electricity subsidy by the Federal Government and allow the Nigerian Electricity Supply Industry (NESI) to generate more money to finance the power sector.

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And now, the Nigerian Electricity Regulatory Commission (NERC) has ordered all 11 Electricity Distribution Companies (DisCos) in Nigeria to increase electricity tariff rates.

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In a memo issued on the 25th of August, the Eko Electricity Distribution Company (EKEDC) notified their customers that the increase in tariffs will take effect from next month, September 1st.

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The Nation Newspaper gathered that in the notice, which was signed by the General Manager of Loss Reduction at EKEDC, Olumide Anthony-Jerome, that the company stated that it had the approval of the NERC to increase its tariff rate from between N42.44 to 58.94 depending on the customer’s class. The increment will remain till December before further increment in January 2022.

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“This is to officially notify you that there will be an increase in electricity tariff with effect from 1st September 2021. This increase is as a result of a nationwide mandate to implement the Service-Based Tariff approved by our regulator NERC”, the memo read.

EKEDC also urged its metered customers to adjust the rates to reflect the new tariff rate.

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“For metered customers with internal vending arrangements, we urge you to adjust the rates accordingly to reflect the new tariff increase as released by NERC,” it said.

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