- Aba Power’s new tariffs, effective January 1, 2025, reflect a 120% increase to address macroeconomic challenges and service sustainability
- Band A non-MD customers will see rates rise from ₦99.9/kWh to ₦219.70/kWh, significantly impacting electricity costs for consumers
The Nigerian Electricity Regulatory Commission (NERC) has approved a 120% increase in electricity tariffs for customers of Aba Power, effective January 1, 2025.
In a statement shared on the company’s X account, Aba Power announced that the new tariffs aim to address recent macroeconomic challenges and sustain the delivery of high-quality services in compliance with regulatory standards.
The revised tariffs will see Band A non-MD customers’ rates rise from ₦99.9/kWh to ₦219.70/kWh, while Band A-MD1 customers will now pay ₦236.41/kWh, up from ₦107.5/kWh. Band A-MD2 customers will experience an increase from ₦109.79/kWh to ₦241.44/kWh.
Other adjustments include:
- Band B non-MD: ₦210.46/kWh
- Band B MD1: ₦229.56/kWh
- Band B MD2: ₦234.07/kWh
- Band C non-MD: ₦180.77/kWh
- Band C MD1: ₦203.89/kWh
- Band C MD2: ₦205.69/kWh
The approval followed a public consultation held during the Customers’ Forum in late 2024, where Aba Power presented its case for the tariff adjustment.
During a NERC hearing, Ugo Opiegbe, Managing Director of Aba Power, explained that the company’s operational costs had risen sharply since the last tariff adjustment.
He noted that ongoing macroeconomic challenges, including dollar-backed projects, had made it difficult to sustain operations under the current tariff structure.
In response, NERC Vice Chairman, Musiliu Oseni, emphasized the commission’s commitment to ensuring a fair balance between consumer interests and the sustainability of service providers.
He assured the public that the commission would thoroughly review the company’s cost parameters to prevent customer exploitation.
The tariff increase is expected to provide Aba Power with the financial capacity to maintain and improve its services amid Nigeria’s challenging economic climate.