The Nigerian Electricity Regulatory Commission, on Tuesday afternoon, said the increase in electricity tariff was as a result of the rise in inflation and the exchange rate.
The Commission, in a statement, said such increment was not contained in the tariff order for electricity distribution companies which took effect on January 1, 2021.
Providing reasons for the latest tariff hike, the commission had 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.
It said the tariff for customers being served less than an average of 12 hours of power supply per day over a period of one month remains frozen and subsidised in line with the policy direction of the Federal Government.
The statement partly read, “The attention of the Commission has been drawn to publications in the print and electronic media misinforming electricity consumers that the Commission has approved a 50% increase in electricity tariff.
READ ALSO: FG hikes electricity tariff by 50%
“The Commission hereby state unequivocally that no approval has been granted for a 50% tariff increase in the Tariff Order for electricity distribution companies which took effect on January 1, 2021.
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“On the contrary, the tariff for customers on service bands D & E (customers being served less than an average of 12hrs of supply per day over a period of one month) remains frozen and subsidised in line with the policy direction of the FG.”
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