BUSINESS DAY
There are indications the Nigerian government plans to triple energy prices in the coming weeks in a bid to revitalise the country’s energy sector and cut the about $2.3 billion spent on subsidy annually.
The new development aims to implement the 2024 multi-year tariff order (MYTO), which could raise the current tariffs by close to 200 per cent.
The new cost per unit of electricity (kWh) is expected to vary depending on the distribution company (DisCo) and the customer’s consumption level on the back of the increasing inflation rate and the impact of the foreign exchange rate and high cost of gas, which may push up the amount paid by customers without government’s subsidy.
BusinessDay findings showed customers under Yola DisCo will pay between N234 and N179 per kWh, while those under Jos DisCo will pay between N166 and N101 per kWh.
Ikeja Electric customers will pay between N143 and N69 per kWh, while Abuja DisCo customers will be charged between N153 and N74 kWh. Eko DisCo’s rates range from N125 to N79 per kWh.
READ THE FULL STORY IN BUSINESS DAY
