JUST IN: FG increases electricity tariff

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The regime of President Muhammadu Buhari has announced an upward review in electricity tariff for power distribution companies.

This was contained in the data presented by National Electricity Regulatory Commission in the 2022 Multi-Year Tariff Order for Ikeja Electric, a distribution company covering parts of Lagos and Ogun States.

The upward tariff review is for all customer categories and will be effective from February 2022, spanning through December 2022, according to the document.

While some customers in major demand area were asked to pay N60.12 per kilowatt from N58.59, customers in low demand area have been asked to pay N57.52 per kilowatt from N55.87.

The rise was based on the DisCos’ Performance Improvement Plans and indicators such gas price, inflation, exchange rate, US inflation rate, and available generation capacity, according to the electricity regulators.