A downward adjustment of the electricity rate for Band A customers, with a minimum daily supply of 20 hours has been approved by the federal government.
Band A customers who were previously paying N225/Kwh will now be required to pay N206.80/Kwh under the approved review.
The decision to crash the tariff may not be unconnected with public outcry over the increase in electricity which industry observers, CSOs, labour unions have described as insensitive.
Already, electricity distributors are sending the reduction notice to their customers.
In a notice to its customers on Monday, Ikeja Electric said “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 tariff for Bands B, C, D, and E remains unchanged.”