Business News

Nigeria Plans 300% Electricity Tariff Hike in Coming Weeks

electricity tariff

By Adedapo Adesanya The federal government is planning an almost 300 per cent increase in electricity tariffs in the coming weeks to attract investment into the sector. As it is being planned, energy distribution companies in the country known as DisCos will begin to charge about N200 per kilowatt-hour (kWh) for customers in the urban areas as against the current N68 per kWh. Those in urban centres represent just 15 per cent of the population but reportedly consume around 40 per cent of the country’s power. The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, said