The revenue generated by Nigerian electricity distribution companies (Discos) surged to ₦887.86 billion in the first seven months of 2024, following a significant tariff hike. Data from the Nigerian Electricity Regulatory Commission (NERC) shows that Discos collected 79.7% of a total electricity bill of ₦1.14 trillion during this period. The tariff increase, which raised rates from ₦66 to ₦225 per kilowatt-hour, has sparked public dissatisfaction, with many consumers facing higher costs as more are transitioned to Band A feeders. Despite complaints, Power Minister Adebayo Adelabu insists Nigeria’s tariffs remain among the lowest in Africa.
