Cost of Electricity to fall by 65%

The Presidential Task Force on Power says a reduced electricity tariff is to be announced by the Nigerian Electricity Regulatory Commission (NERC) in April. A statement signed by Abimbola Agboluaje, head, media and communications of the Task Force on Sunday, stated that the new tariff would reduce the cost of electricity by 65 per cent.
“The poorest Nigerians pay more than N80 per kWh, burning candles, kerosene and firewood while the majority of Nigerians pay N50 to N70 on self-generation and manufacturers pay between N45 and N60 per kWh on diesel or LPFO generation, using larger generators,” the statement stated.
It said that would attract new capacity to the power sector as the cost of electricity on businesses and individuals, as well as on prices of goods and the rate of inflation in the country, would be reduced.

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