President Muhammdu Buhari-led federal government has ordered that electricity tariff should be increased across Nigeria.
The directive was signed and issued by Sanusi Garba, the Nigerian Electricity Regulatory Commission (NERC) chairman, on Thursday, December 31, 2020.
Techeconomy.ng gathered that the new tariff was expected to have taken effect from January 1.
The NERC explained that the new tariff will be enforced until the issuance of another minor review order or an extraordinary tariff review order by the commission.
According to the commission, some of the indices considered for the upward review include Nigeria’s inflation rate, exchange rate, US rate of inflation, available generation capacity, gas price, MDA losses and capex adjustment.