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The Nigerian Electricity Regulatory Commission (NERC) is currently awaiting approval from President Bola Tinubu to announce a new electricity tariff regime.
This adjustment, which is expected to result in an increase, is part of the regular review of the Multi-Year Tariff Order (MYTO).
The source revealed that “Everything is ready. By Friday this week, we will know if this increase will happen on July 1 or August 1, as some people have suggested. The truth is that the increase will happen, if not the government will have to pay for the shortfall.”
The review takes into account factors such as the devaluation of the Naira, Nigeria’s currency.
Once approval is given, the tariff increase will be implemented, with a meeting planned to discuss the implications of the hike.
The Electricity Distribution Company (DisCos) and the Manufacturers Association of Nigeria (MAN) believe that the tariff increase will encourage investment and improve power supply.
However, the Nigeria Consumer Protection Network has expressed concerns about the lack of value for consumers from past tariff reviews and has recommended more investment in critical power grid infrastructure and network improvements to ensure efficient service delivery and customer satisfaction.
