NTA Port Harcourt Contribution to Tuesday Live - New Electricity Regime - Matters Arising ll 9th April 2024
Clearly, the new tariff for consumers of electricity in the band A classification has generated an uproar within the confines of Nigeria's public opinion considering the nearly 230% increase in electricity tariff. The Nigerian Electricity Regulatory Authorities only last week, precisely on the 3rd of April 2024, approved a rate review of 225 Naira per kilowatt hour (kWh) from a maximum of 68 naira per kWh for just under 15% of the customer population in the Nigerian electricity supply industry.
The rate review is reflective of the current Federal Government’s resolve to also wean the economy off electricity subsidies – put at about 2.6 billion US dollars in the 2024 fiscal year – so as to ease pressure on public finances.
Many fear this new hike in electricity tariff will only worsen an already escalating inflationary trend, result in job losses, and close businesses.
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- Category:
- News
- Oganisation:
- NTA Network Center Port Harcourt
- Writer:
- Ashiathah
- Phone:
- 08175947664
- 10 Apr, 2024
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