The Nigerian Electricity Regulatory Commission (NERC) has shot down rumors of an impending electricity tariff hike, bringing relief to consumers across the nation. Recent media reports had claimed that the commission had finalized plans to increase electricity prices, sparking anxiety and speculation.
Addressing these concerns, NERC spokesperson Usman Abba Arabi categorically denied any such directive. He clarified that the commission has not approved any new electricity tariffs for any of the electricity distribution companies (DisCos) within the Nigerian Electricity Supply Industry.
“The Commission (NERC) has not approved any new electricity tariffs for any of the electricity distribution companies within the Nigerian Electricity Supply Industry,” he said.
“No new electricity tariff has been approved. Nigerians should ignore any news reports about new electricity tariff coming up on the 1st January 2024.”
This statement comes as a welcome assurance for Nigerians already grappling with rising costs of living and economic challenges. The potential for a tariff increase, particularly during this period, would have added significant strain to household budgets and businesses.
However, it’s important to note that while NERC has denied any immediate tariff hike, the long-term future of electricity prices in Nigeria remains uncertain. The nation’s power sector faces several complex challenges, including financial constraints, infrastructure limitations, and the need for sustainable solutions.
