The vice president of the Nigeria Electricity Regulatory Commission (NERC), Musiliu Oseni, has explained the reasons behind the increase in electricity tariff for Band A customers.
The increase, which was announced by NERC earlier on Wednesday, will see customers pay ₦225-naira kilowatts per hour, up from the current ₦66 naira.
Musiliu Oseni while explaining this with newsmen on Wednesday said that the Commission is empowered by its Act to ensure that the licenses operating efficiently are allowed to recover sufficient revenue for the capital invested, for the operational cost as well as having a return for the investment they have made.
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