The Federal Government has again increased the electricity tariff payable by power consumers in Nigeria.
Approval for the hike in tariff was given by the Nigerian Electricity Regulatory Commission, as the increase which varies, based on different consumer classes, took effect from January 1, 2021, The Punch reports
The NERC announced the tariff hike in its December 2020 minor review of the Multi-Year Tariff Order and Minimum Remittance Order obtained by our correspondent in Abuja on Tuesday.
The tariff increase is taking effect just two months after the government through NERC implemented a hike in November 2020, which saw widespread opposition.
The MYTO order containing the latest tariff hike, Order NERC/225/2020, was signed by the new Chairman of NERC, Sanusi Garba, and it supersedes the previous Order NERC/2028/2020.
Providing reasons for the latest tariff hike, the commission said it considered the 14.9 per cent inflation rate rise in November 2020 and foreign exchange of N379.4/$1 as of December 29, 2020.