Nigerian Minister of Power suggests electricity tariff reduction if FX rate falls below N1,000/$.

Nigerian Minister of Power, Adebayo Adelabu, indicates that electricity tariff will reduce if the foreign exchange (FX) rate drops below N1,000 per dollar. Adelabu made this statement on Channels Television's Politics Today program on April 3, following the Nigerian Electricity Regulatory Commission's (NERC) decision to raise electricity tariffs for customers receiving 20 hours of electricity daily, known as Band A classification. The current tariff for Band A customers is N225 per kilowatt hour, up from N66.

April 11, 2024
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