IBEDC increases electricity tariff for Band A customers by ₦2.70

IBEDC’s acting Managing Director, Francis Agoha, stated this in a statement on Wednesday in Ibadan.

Agoha said the tariff, effective immediately, would be adjusted from ₦206.80/kWh to ₦209.50/kWh

He noted that the review had been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year Tariff supplementary order.

According to him, the adjustment is necessitated by several key economic indices, including fluctuations in the exchange rate, current inflation rate, available generation capacity, and the cost of gas.

“These factors have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services.

“It is important to note that this adjustment affects only our Band A customers. The tariffs for Bands B, C, D, and E remain unchanged.

”We remain committed to providing reliable and efficient electricity services to all our customers across different bands,” he said.

Agoha said any change in tariffs could be a concern for customers, but added that the adjustment was necessary to maintain and improve the quality of services.

”Our goal is to ensure that our customers receive the best possible value for their money,“ he said.