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DisCos resist countrywide increase in electricity rates on January 1.



By Hannah Nathan, Warri

According to reports, Nigeria’s electrical distribution companies, or DisCos, intend to increase electricity rates across the country starting on January 1, 2024.

As of Sunday morning, the Nigerian Electricity Regulatory Commission (NERC) and Abuja Electricity Company had not responded to a query regarding the proposed increase in electricity tariffs.

The president of the Nigerian Consumer Protection Network, Kunle Olubiyo, stated that any proposed increase in the price of electricity would be completely reckless on the part of the government in an interview.

He claims that the withdrawal of gasoline subsidies, rising inflation, and other economic changes implemented by Tinubu’s administration are still having an impact on Nigerians.

“Increasing electricity at this time, coupled with the impact of fuel subsidy removal, inflation, and other hardships facing Nigerians, will be insensitive on the part of the government.

“It is outright irresponsible for the government to allow an electricity tariff hike,” he said.

Remember that President Bola Ahmed Tinubu halted the introduction of the energy rate in November 2023 to insist on a subsidy for the power sector.

Minister of Power Adebayo Adelabu commented on Tinubu’s direction regarding an increase in electricity tariffs, saying, “The power sector is an industry that is very sensitive to any leader.

“You cannot jump overnight and implement the cost-reflective tariff. I can tell you that till today, the government still subsidises power.”

Power subsidies used N204.59 billion in the third quarter of 2023 and N135.23 billion in the second, according to NERC’s quarterly reports. This is a significant increase over the N36.02 billion in the first quarter of 2023.

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