Nigeria plans to nearly triple energy prices to attract investment and cut tariff-capping costs.

Nigeria plans to nearly triple energy prices within weeks, aiming to attract new investment and slash around $2.3 billion spent to cap tariffs. Urban consumers may face a 150% increase in energy prices, from 68 naira to 200 naira ($0.15) per kilowatt-hour. The government seeks to reduce price distortions and improve power supply, while the latest move could impact electricity tariffs for consumers.