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IT’S NOT IN OUR NATURE TO PAY EVIL FOR GOODI’M BIGGER THAN ALL OF YOU PUT TOGETHER – WIKE TELLS PDP GOVS BACKING FUBARAI REPORTED MY RAPE CASE TO SUPERIOR OFFICERS BUT THEY DISREGARD IT DUE ACCUSED PERSON’S RANK – DISCHARGED FEMALE SOLDIERNAIRA DEPRECIATES TO N1,700/$ AT PARALLEL MARKET – LOWEST IN SEVEN MONTHSNEW COVID-19 VARIANT EMERGES IN EUROPE, USPRESIDENCY MOVES TO STOP OCTOBER 1 PROTESTTHERE’S NO PLACE IN IRAN THAT WE CANNOT REACH – ISRAELI PRIME MINISTER, NETANYAHUSTOP BLOCKING ROADS DURING PRAYER SESSIONS – APPEAL COURT PRESIDENT TELLS MUSLIMS, CHRISTIANSPASTOR DIES IN ABUJA WHILE FASTING, PRAYINGWHY BOBRISKY WAS SEPARATED FROM OTHER INMATES – PRISON EXPERTSTHOSE WHO WILL RESCUE NIGERIA NOT YET BORN, JOE IGBOKWE, TINUBU SUPPORTER, MAKES U-TURNEFCC DETAINS, CHARGES FORMER TARABA GOVERNOR, ISHAKU, OVER ALLEGED N27BN FRAUDSPONSORSHIP OF BANDITRY ALLEGATION: MINISTER VS GOVERNOR: DHQS OPENS UP INVESTIGATIONPH REFINERY SETS OCTOBER 2 AS ANOTHER DATE TO COMMENCE OPERATIONENUGU RANKS LOWEST IN EASE OF DOING BUSINESSENUGU GOVT VOWS TO GO TOUGH AGAINST SEX-FOR-GRADE OFFENDERSSET BACK FOR ATIKU AS ADAMAWA PDP BACKS DAMANGUNBOBRISKY WAS GUARDED LIKE PRESIDENT IN KIRIKIRI PRISON, SPENT ONLY THREE WEEKS OUT OF SIX MONTHS JAIL SENTENCEAKWA IBOM FIRST LADY, PATIENCE UMO, IS DEADPRESIDENCY USED N9.2B TO PURCHASE VEHICLES AMID HARDSHIPNNPC STRUGGLING TO SUPPLY CRUDE TO DANGOTE BECAUSE BUHARI USED REFINERY AS LOAN COLLATERAL – PENGASSANYOU SACKED ME AS CBN GOVERNOR – EMIR SANUSI TELLS EX-PRESIDENT JONATHANPRISON OFFICIALS SUSPENDED OVER BRIBERY ALLEGATION INVOLVING BOBRISKY50M ALMAJIRI, OUT-OF-SCHOOL CHILDREN ROAMING THE STREETS – FGENUGU GOVT SUMMONS NSUKKA TRADITIONAL RULERS, PGS OVER BRUTAL ORIOKPA MASQUERADESAPPOINT YAHAYA BELLO MINISTER OF FINANCE – MAHDI SHEHU ON TINUBU’S PROPOSED CABINET RESHUFFLEPRO-DEMOCRACY OPPOSITIONS ASK NIGERIANS TO JOIN OCTOBER PROTESTSSGF AKUME LISTS TINUBU’S ACHIEVEMENTS AHEAD OF INDEPENDENCE ANNIVERSARY CELEBRATIONNIGERIA @64: TINUBU ORDERS LOW KEY INDEPENDENCE ANNIVERSARY CELEBRATIONCOURT SENTENCES FIVE OFFA BANK ROBBERS TO DEATHNIGERIA DID NOT LOSE $49.8B UNDER MY ADMINISTRATION – GOODLUCK JONATHANFEDERAL WORKERS BEGIN TO RECEIVE N70,000 MINIMUM WAGENIGERIA NOT RIPE FOR TOTAL SUBSIDY REMOVAL – ECONOMISTWE’RE EXECUTING OVER 1,000 PROJECTS IN ENUGU – PETER MBAHPRICES OF RICE, BEANS, EGG, BREAD STILL HIGH – NBSHARDSHIP: CIVIL SERVANTS GO TO WORK TWICE IN A WEEKIT’S SHAMEFUL, KWARA HAS ILLEGITIMATE COUNCIL CHAIRMEN, COUNCILLORS – SARAKIEDO GUBER: I’LL CONTEST AGAIN – OLUMIDE AKPATAREAL REASON WABARA WAS DENIED JOB SLOTS – FCCCOUNT US OUT OF DANGOTE, NNPC CONTROVERSY – FGWHY YAHAYA BELLO WAS TURNED BACK AT HEADQUARTERS – EFCCFG FILES FRESH 16-COUNT CHARGES AGAINST EX-KOGI GOVERNOR YAHAYA BELLOHOW NASARAWA CATECHIST WAS FATALLY SHOT BY GUNMENTINUBU ACCUSES MINISTERS OF NOT BROADCASTING HIS ACHIEVEMENTSFG INCREASES NYSC MEMBERS MONTHLY ALLOWANCE TO N77,000
Thu. Oct 3rd, 2024

ANOTHER HIKE IN ELECTRICITY TARIFF LOOMING

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ANOTHER HIKE IN ELECTRICITY TARIFF LOOMING

Another electricity tariff hike may be introduced in October 2024 by the Nigerian Government as the country’s monthly power subsidy rose to N181,63 billion in September.

This comes as the electricity subsidy by the Federal Government rose to N181,63 billion in September from N102.30 billion in May.

In the last three months, the government paid N163.87 billion in July, N173.88bn in August, and N181.63bn in September 2024.

This comes after the Nigerian Electricity Regulatory Commission announced the removal of subsidies in areas categorized as Band A feeders on April 3, 2024.

NERC had revealed that the monthly electricity subsidy at that time stood at N140.7 billion.

Consequently, NERC approved an electricity tariff hike for electricity consumers enjoying at least 20 hours of electricity daily, raising their tariff to N225 per kilowatt-hour.

However, the decision generated serious outcries among Nigerians, including labour unions, educational and health institutions, whose electricity bills tripled following the removal of the subsidy.

In May when the subsidy figure dropped to N102.30 billion, the government slashed the Band A tariff to N206.80/kWh.

NERC said the reason for the reduction was due to a fall in the exchange rate of the Dollar to the Naira.

However, the tariff was jerked to N209/kWh in early July as the subsidy rose again to N158 billion in June.

Accordingly, in the period under review, the NERC put the dollar exchange rate at N1,494.1 in July; 1,564.3 in August; and N1601.5 in September.

As of September, the NERC maintains the benchmark gas-to-power price of $2.42/Million British Thermal Units based on the established benchmark price of gas-to-power by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in line with Section 167 of the Petroleum Industry Act 2021.

This indicates the rising cost of power generation in Nigeria.

The development coupled with the country’s inflation rate which stood at 32.15 percent in August 2024 had fueled speculations that there may be another tariff increase in the October Multi-Year Tariff Order unless the cost of power generation drops.

https://dailypost.ng/2024/09/23/fresh-electricity-tariff-hike-looms-as-nigerias-monthly-power-subsidy-hits-n181-63bn/
2 Likes 1 Share

Re: Fresh Electricity Tariff Hike Looms, Nigeria’s Monthly Power Subsidy Hits N181.B by Lanretoye(m): 10:22am
The only thing that will save this country is the fall of the exchange rate,everyone is paying heavily for tinubu’s goof and no relief in sigh.
52 Likes 3 Shares

Re: Fresh Electricity Tariff Hike Looms, Nigeria’s Monthly Power Subsidy Hits N181.B by Irite: 10:25am
What a time. On top the current Hart time
1 Like

Re: Fresh Electricity Tariff Hike Looms, Nigeria’s Monthly Power Subsidy Hits N181.B by nedu666: 10:26am
Tinubu has done his worse. All these threats of more poverty doesn’t move us anymore. If he likes he can introduce air you breathe tax
32 Likes 1 Share

Re: Fresh Electricity Tariff Hike Looms, Nigeria’s Monthly Power Subsidy Hits N181.B by TinkTwice(m): 10:26am
grin

It’s high time I went back to my village
Atleast ,I’ll have sticks and palmchaff to light up my canada
8 Likes

Re: Fresh Electricity Tariff Hike Looms, Nigeria’s Monthly Power Subsidy Hits N181.B by iwaeda: 10:29am
ogododo:
Another electricity tariff hike may be introduced in October 2024 by the Nigerian Government as the country’s monthly power subsidy rose to N181,63 billion in September.

This comes as the electricity subsidy by the Federal Government rose to N181,63 billion in September from N102.30 billion in May.

In the last three months, the government paid N163.87 billion in July, N173.88bn in August, and N181.63bn in September 2024.

This comes after the Nigerian Electricity Regulatory Commission announced the removal of subsidies in areas categorized as Band A feeders on April 3, 2024.

NERC had revealed that the monthly electricity subsidy at that time stood at N140.7 billion.

Consequently, NERC approved an electricity tariff hike for electricity consumers enjoying at least 20 hours of electricity daily, raising their tariff to N225 per kilowatt-hour.

    • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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