Ibadan Electricity Distribution Company Plc (IBEDC) has announced an upward review of electricity tariff for its Band A customers, citing economic indices such as exchange rate fluctuations, inflation, and gas costs.
The new tariff, approved by the Nigerian Electricity Regulatory Commission (NERC), increases the rate from N206.80/kWh to N209.50/kWh.
According to Engr. Francis Agoha, IBEDC’s Acting Managing Director, “This adjustment is necessary to mitigate the financial pressures occasioned by these economic factors, while ensuring we continue to deliver high-quality electricity services.”
He assured that the change only affects Band A customers, while tariffs for Bands B, C, D, and E remain unchanged.
IBEDC emphasized its commitment to providing reliable and efficient services, acknowledging that tariff changes can be concerning for customers. Agoha stated, “Our goal is to ensure that our customers receive the best possible value for their money.”
This development follows previous tariff adjustments in the Nigerian electricity sector, aimed at addressing economic and operational challenges. In 2020, NERC approved a tariff hike to reflect the sector’s economic realities.
-Advertisement-
We do everything possible to supply quality news and information to all our valuable readers day in, day out and we are committed to keep doing this.
Your kind donation will help our continuous research efforts.
-Advertisement-
-Want to get the news as it breaks?-
