The Federal Government cuts Band from N225/kwh to N206.80/kwh for power rates

The Federal Government cuts Band from N225/kwh to N206.80/kwh for power ratesThe Nigerian Federal Government has authorized a decrease in the electricity rate for Band A subscribers. According to Vanguard, the revised tariff is effective immediately and is now N206.80/kWh, down from the previous rate of N225/kWh. CONTINUE FULL READING>>>>>

Group Customers with a minimum 20-hour daily supply, as defined by this amended pricing structure, will now benefit.

The announcement came through a notice issued by Ikeja Electric on Monday, confirming the tariff adjustment for Band A feeders. The revised rate ensures a guaranteed availability of electricity for 20 to 24 hours per day. However, tariffs for Bands B, C, D, and E remain unchanged.

Ikeja Electric, stated: “Please be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily. The tariff for Bands B, C, D, and E remains unchanged.”

This decision follows recent appeals from the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) to the Nigerian Electricity Regulatory Commission (NERC) and power sector operators.

Last week, the president of both unions, Mr. Joe Ajaero and Mr. Fetus Osifo, jointly urged a reversal of the tariff increase during their address on Workers’ Day in Abuja. They cited dissatisfaction with the country’s inconsistent power supply, highlighting its adverse impact on economic growth. CONTINUE FULL READING>>>>>

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