DISCOs laying fresh burden on Nigerians with new electricity tariff

The Ikeja Electric, like other Electricity Distribution companies (DISCOs) has sent out stern notice to electricity consumers in Lagos on the new tariff commencing July 1. The company urged those using pre-paid metres to hurriedly make bulk purchase before the end of June to enable them a stock of units before they begin to buy at the new rate.

The Ikeja Electric cited the exchange rate of the naira to a dollar as reason for the sharp and outrageous increase of energy tariff in the country.
The company is the notice to consumers noted that the old rate was fixed when the exchange rate was N441/$1, noting that the exchange rate has risen to N750/$1.
The company also stated that consumers should be expecting a tariff base N100 per kWh for band C (12-16 supply hours per day). It added that Bands A (20 hours and above) & B (16 – 20 hours) will be much higher.
Meanwhile, the government has continued to make life more difficult for Nigerian citizens, moving from the sudden subsidy removal and outrageous increase in the pump price of petrol to increase in electricity tariff within one month of the administration of President Bola Tinubu. This hardship is more so when Nigerians were yet to recover from the Naira redesign and money scarcity crisis.
Besides, the election promises of rehabilitating the refineries in the country and reactivate their capacities to process crude oil for local consumption was not done while the Tinubu administration terminated the subsidy regime and imposed high petrol price. The citizens are becoming victims of the consequences of cumulative maladministration for a second time in one month of the Tinubu administration with the emerging electricity tariff.
Also, while the Tinubu administration is yet to commence implementation of the students loan scheme promised during the electioneering campaigns, universities are already rolling out increase in school fees, waiting to “swallow” the funds from the supposed indigent students.
The Ikeja Electric notice to consumers on the new tariff reads:
“Dear Customers, electricity tariffs are set to go higher on July 1st due to the floating exchange rate.
“MYTO 2022 set the exchange rate at N441/$1, which may now be adjusted to about N750/$1.
“We may be looking at a base tariff of N100 per kWh for Band C (12 – 16 supply hours per day).
“Bands A (20 hours and above) & B (16 – 20 hours) will be much higher.
“If you have a prepaid meter, buying bulk energy units for your home or office before the end of the month may help you make some savings before you have to buy at the new rate.
“For those on post-paid (estimated) billing, a significant increment is imminent in your monthly billing, starting from August.”
“Please take note.
“Electricity units are set to jump by 30-40% in just over a week. You are best advised to buy as many units as you can before July 1.”