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BREAKING: NERC Approves New Increase in Electricity Tariff
The Nigerian Electricity Regulatory Commission (NERC) has approved an increase in electricity tariff across the country.
According to a directive issued on December 31, 2020, and signed by Sanusi Garba, NERC chairman, the new tariff will take effect from January 1.
The commission stated that the new tariff will be enforced until the issuance of another minor review order or an extraordinary tariff review order by the commission.
The NERC said some of the indices considered for the upward review include Nigeria’s inflation rate, exchange rate, US rate of inflation, available generation capacity, gas price, MDA losses and capex adjustment.