President Bola Tinubu’s government has announced the approval of a decrease in electricity tariffs for Band A consumers.

Previously, the Nigerian Electricity Regulatory Commission (NERC) had announced an increase in electricity prices for Band A customers.

NERC stated that the Band A customers are those who receive daily power supply for 20-24 hours of power supply.

Following the initial increase, customers were charged N225/Kwh. However, after the downward review customers are now required to pay N206.80/Kwh.

The tariff revision was announced on Monday, May 6, 2024, in a statement issued by Ikeja Electric.

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.

The tariffs for Bands B, C, D, and E remain unchanged.”

In April, the federal government, approved a tariff increase of N225 ($0.15) per kilowatt-hour for Band A electricity consumers.

This decision raised concerns as Nigerians expressed disappointment amidst economic hardship.