In response to public concerns and feedback from industry observers, civil society organizations, and labor unions, the Federal Government has approved a significant downward adjustment in electricity tariff for Band A consumers. Band A customers, who previously faced charges of N225/Kwh, will now benefit from a reduced rate of N206.80/Kwh.
The decision to revise the tariff reflects the government’s commitment to addressing the concerns raised by stakeholders regarding the affordability and accessibility of electricity. By implementing this reduction, the government aims to alleviate the financial burden on Band A consumers while ensuring continued access to essential services.
Electricity distributors have begun notifying their customers about the tariff adjustment. Ikeja Electric, for instance, has already issued a notice to its customers, informing them of the revised tariff effective May 6, 2024. The notice guarantees Band A consumers a minimum daily supply of 20-24 hours at the newly adjusted rate of N206.80/Kwh.
It’s important to note that while the tariff for Band A consumers sees a reduction, tariffs for Bands B, C, D, and E remain unchanged. This strategic move by the Federal Government reflects its ongoing efforts to balance the interests of consumers with the need for sustainable electricity provision across the country.
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