The Federal Government has jacked up the electricity tariff for Band A customers.
Band A are those who enjoy electricity supply for 20 hours per day.
At a press briefing in Abuja on Wednesday, Musliu Oseni, Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), said the increase will see customers pay ₦225 kilowatts per hour, up from the current ₦66.
Oseni said these customers represent 15 per cent of the 12 million electricity customers in the country.
He added that the commission had also downgraded some customers on Band A to Band B due to non-fulfilment of the required hours of electricity provided by the electricity distribution company.
He noted that the review will not affect customers on the other Bands.
Bloomberg on Tuesday reported that power companies will be allowed to raise electricity prices to N200 ($0.15) per kilowatt-hour from N68 for urban consumers.
It quoted people in the presidency with knowledge of the matter saying this was in a bid to attract new investment and slash about $2.3bn spent to cap tariffs (subsidies).
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