In a move aimed at alleviating the financial burden on electricity consumers, the Federal Government has sanctioned a significant downward review of electricity tariffs for Band A customers. Band A consumers, characterized by those with a minimum daily supply of 20 hours, will now see a reduction in their tariff from N225/Kwh to N206.80/Kwh.
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The decision, which comes amidst mounting public outcry over recent increases in electricity tariffs, reflects a concerted effort by the government to address concerns raised by industry observers, civil society organizations (CSOs), and labor unions. The move is seen as a response to the widespread perception of the previous tariff hikes as being insensitive to the economic realities faced by consumers.
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Already, electricity distribution companies have begun disseminating notices of the tariff reduction to their customers. In one such notice issued by Ikeja Electric on Monday, consumers were informed of the downward tariff review specifically for Band A feeders. The notice stated, “Please be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily.”
While the reduction in tariff is expected to provide relief to Band A consumers, it’s important to note that tariffs for Bands B, C, D, and E remain unchanged at this time.
Ejes Gist News understands that this move underscores the government’s commitment to ensuring that essential services like electricity remain accessible and affordable to all segments of society. It also reflects a responsiveness to the concerns voiced by citizens and stakeholders regarding the affordability of electricity in the country.
The downward review in electricity tariff for Band A consumers is poised to positively impact household budgets and contribute to the overall economic well-being of consumers across the nation.
