Business
Power Firms Take Fresh Step Over Planned Tariff Hike
Power consumers in Nigeria have expressed relief after it was confirmed that electricity distribution companies had not implemented the proposed hike in the tariff payable for electricity nationwide.
Some power distribution firms had announced on June 25, 2023, that there would be a hike in tariff from July 1, 2023.
But the distribution companies backtracked the next day after widespread criticism, as they stated that the Nigerian Electricity Regulatory Commission had yet to approve the proposed hike.
But the development caused apprehension among power consumers as many prepaid consumers rushed to buy more units in their meters, while anticipating a possible hike in tariff.
It was, however, confirmed yesterday by some residents of the Federal Capital Territory, being July 1, 2023, that the Discos did not raise the tariff.
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