FG hike electricity tariff by 300%

In Nigeria, the Electric Regulatory Commission has announced hike in electricity tariff in the A band electric line.

The commission made the announcement during a press briefing the commission chairman, Musliu Oseni.

He said going forward, consumers will pay N225 per hour instead of the N66 before.

He also said they will demote some costumers from Band A and Band B, which will reduce the number of the costumers in that line from 800 to 500 due to to lack of required electricity supply within the bands.

He however said that the new review will not affect consumers on other Bands.

By the new tariff, consumers in Nigeria, “ Will now be paying $2.42 per one million British thermal units from the previous rate of $2.18 MMBtu.”