Adebayo Adelabu, minister of power has expressed optimism that electricity tariff will reduce if the foreign exchange (FX) rate drops below N1,000\$1.
This follows the increase in electricity tariff for customers under the Band A classification (customers who receive over 20 hours of electricity supply daily) from N66per kilowatt to N225 per kilowatt on April 3, 2024 by the Nigerian Electricity Regulatory Commission (NERC).
The development had attracted harsh criticism from Nigerians who described it as ill-timed and a move that would further aggravate the hardship experienced by Nigerians.
