The Nigerian Electricity Regulatory Commission has approved an increase in electricity tariff across the country.
According to a directive issued by the NERC chairman, Sanusi Garba on December 31, 2020, the new tariff is set to take effect from January 1.
The commission stated that the new tariff will be enforced until the issuance of another minor review order or an extraordinary tariff review order by the commission.
The NERC in its own defense said some of the indices considered for the upward review include Nigeria’s inflation rate, exchange rate, US rate of inflation, available generation capacity, gas price, MDA losses and capex adjustment.