Ikeja Electric Slashes Electricity Tariff for Band A Customers Enjoying 20 Hours of Power Supply

• Ikeja Electric, which serves a large part of Lagos, has announced a significant reduction in electricity tariffs for Band A customers
• This tariff adjustment will be welcomed by Band A customers, who typically enjoy 20 hours of electricity per day
• The amount Ikeja Electric customers in Bands B, C, D, and E pay for electricity remains unchanged

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends

Ikeja Electric Distribution Company (IE) has announced a significant reduction in electricity tariffs for Band A customers.

In a circular signed by the company's management on Monday, May 6, 2024, customers under Band A will now pay N206.80/kWh rather than the stipulated N225/kWh ordered by the Nigeria Electricity Regulatory Commission (NERC).

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Ikeja Electric promised to provide 20 to 24 hours of electricity to users under this Band, adding to the tariff.

However, customers under other categories will remain the same.

Ikeja Electric's statement shared on X reads:

“Dear Esteemed Customers 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. Signed: Management.”

FG hiked tariffs by 300%

Legit.ng had earlier reported that the Nigerian government recently increased electricity tariffs for band A customers by 300% from N66 kilowatt per hour to N225.

According to the NERC, band A customers are those who enjoy a minimum of 20 hours of electricity supply in the country.

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List of communities affected by new electricity tariff

Earlier, Legit.ng reported the areas affected by the new electricity tariff in some areas in Lagos state.

Those affected are to adjust to the new tariff even as the electricity company has started informing them.

Ikeja Electric has released a list of communities in Band A, as well as those in Band B, C, D, and E.

Some of the areas are under Ikorodu, Ikeja, Oshodi, Abule Egba and more.

Source: Legit.ng