• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home News

AEDC Clarifies: No Electricity Tariff Increase Implemented, Contrary to Media Reports

by Justice Godfrey Okamgba
June 26, 2023
in News
0
AEDC Clarifies: No Electricity Tariff Increase Implemented, Contrary to Media Reports
UBA
Advertisements

The Abuja Electricity Distribution Company (AEDC) has clarified that it has not implemented any increases in electricity tariffs, contrary to what some media reports have suggested.

Reports had circulated on various platforms claiming that AEDC announced an impending tariff increase without approval from the regulator, NERC.

Additionally, a viral message on WhatsApp and social media contributed to the confusion by stating that the company had announced a tariff change.

It is worth noting that energy experts have predicted that electricity tariffs in Nigeria may rise due to factors such as the managed float by the Central Bank of Nigeria (CBN) and the austerity measures implemented by the administration of President Bola Tinubu.

AEDC, however, made it clear that no approval has been granted for tariff increments and urged customers to disregard any notifications suggesting otherwise.

In their statement, they emphasized, “Please ignore the information circulating in the media about the review of electricity tariffs. We want to inform you that we have not received any approval for such increases, and we apologize for any inconvenience caused.”

Earlier, TechEconomy reported that electricity prices in Nigeria are expected to increase following the unification of the naira, which has led to its depreciation at the investor and exporter window. The CBN recently consolidated all segments of Nigeria’s foreign exchange market into one.

Dr. Damilola Oluwole, a Director of Energy Markets and Rates Consultants, explained that current electricity tariffs already account for the inflation rate.

The inflation rates used are based on historical average rates from the National Bureau of Statistics (NBS), with the current figure standing at approximately 22.4%. As a result, due to a slight increase in the Consumer Price Index (CPI), the impact of tariffs is expected to be minimal.

Dr. Oluwole also mentioned that according to figures provided by the CBN’s website, the exchange rate of USD/NGN 467.53 indicates a marginal increase compared to the current rate of USD/NGN 441.48.

Based on the assumption that the rate of USD/NGN 663 from the I&E window on Friday, June 16th, is used for December 2023 tariffs, and all other factors remain constant, an average increase of about 25-30% can be expected for some distribution companies (DisCos).

Loading

Advertisements
MTN ADS

Author

  • Justice Godfrey Okamgba
    Justice Godfrey Okamgba

    View all posts
0Shares
Tags: AEDCEKEDPElectric Power
Justice Godfrey Okamgba

Justice Godfrey Okamgba

Next Post
AfDB Approves €19.2 Million Funding for Kenyan SMEs, Women Entrepreneurs in Agribusiness

AfDB Approves €19.2 Million Funding for Kenyan SMEs, Women Entrepreneurs in Agribusiness 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

vTech

vTech Multi-Cloud Services is Streamlining Multicloud Adoption for Nigerian Organizations

1 year ago
MARCUS ZACKEY on m-Commerce

m-Commerce: Mobile Devices Should be the Platform of Choice for Retailers to Customers

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.