Amidst the enduring impact of the fuel subsidy removal, Nigerians are now confronted with the specter of an impending electricity tariff increase scheduled to commence on January 1, 2024.
Reports indicate that officials from Nigeria's Electricity Distribution Companies (DisCos) convened in a recent virtual emergency meeting to finalize plans for the tariff increment. A source within the DisCos, choosing to remain anonymous, confirmed this development, emphasizing that all arrangements have been concluded for the new tariff's implementation.
With the National Electricity Regulatory Commission (NERC) inviting distribution companies to discuss the matter, concerns loom over the abrupt notice and the potential dissatisfaction among consumers. While the magnitude of the increase remains uncertain, the timing and ambiguity of the announcement have stirred anxieties among both industry players and the public.
The recent intervention by President Bola Ahmed Tinubu in halting the electricity tariff in November 2023 further complicates the situation, with the Minister of Power, Adebayo Adelabu, highlighting the challenges in swiftly transitioning to a cost-reflective tariff. As Nigerians grapple with economic strains, the looming tariff hike adds another layer of uncertainty to the already challenging landscape.
