JUST IN: Ikeja DisCo slashes Band A tariff to N206.80/kwh

The Nigerian Electricity Regulatory Commission had approved a tariff of N225/kWh, but the Ikeja Electricity Distribution Company has reduced this amount to N206.80 per kilowatt-hour for its Band A customers.

Olufadeke Omo-Omorodion, the IKEDC spokesperson, informed our correspondent of this in a notice on Monday.

The notice stated that the Band A customers' downward tariff review would begin on Monday, May 6, 2024.

Customers on Band A feeders will receive power for at least 20 hours every day, according to the DisCo, but other customers' rates will not change.

"Dear Respected Clients, please be advised that our Band A feeder tariff will be reviewed downward, with effect from May 6, 2024, to N206.80/kWh, with a guaranteed 20–24 hour supply every day."According to the IKEDC, the tariff for Bands B, C, D, and E is still in place.

The NERC updated Band A customers' electricity rates on April 3 from N68 per kilowatt-hour to N255/KWh, stating that the increase had no effect on other customers.

Customers in Band A have been complaining about how much the increase in electricity rates is hurting their finances ever since the supplemental Multi-Year Tariff Order was released. They are urging the federal government to change this policy.

However, the Minister of Power, Adebayo Adelabu, threatened to declare a nationwide blackout within the next three months if the electricity tariff hike was not carried out during his appearance before the Senate Committee on Power on Monday during an investigative hearing regarding the tariff hike.