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.

Please click on the video below for more on this story

Categoría:

Negocio 

Organización:

NTA Network Center Port Harcourt

Escrito por:

Ashiathah