FG Gives Update On Electricity Tariff Increment

In response to claims of an impending electricity tariff increase on July 1, the Federal Government has issued a clarification.

The Nigerian Electricity Regulatory Commission (NERC) addressed the inquiry on Monday regarding the alleged tariff increment by Electricity Distribution Companies (DisCos). According to Mr. Michael Faloseyi, the Assistant General Manager of Public Affairs at NERC, there has been no approval for such an increase.

Faloseyi emphasized that the commission has not given its approval for any electricity tariff increments at this time.

He stated, “I can confirm that the Commission has not approved any tariff increase.”

NERC’s statement serves to counter speculations of a 40% electricity tariff hike.

Over the past three years, there have been several upward adjustments in electricity tariffs implemented under the NERC’s Multi-Year Tariff Order (MYTO). These adjustments have been made in accordance with prevailing economic conditions, including the inflation rate and the exchange rate of the Naira at the foreign exchange window.