Business
Possible Tariff Hike for Nigerian Electricity Customers
Electricity customers on Band A feeders in Nigeria may face a potential tariff increase due to a significant rise in the electricity subsidy. As of September, the subsidy has grown to ₦181.63 billion, up from ₦102.30 billion in May.
The Nigerian Electricity Regulatory Commission (NERC) had previously removed the subsidy for Band A customers, who receive at least 20 hours of electricity daily, raising their tariff to ₦225 per kilowatt-hour. However, the subsidy increase has raised concerns that tariffs could rise again in October unless power generation costs decrease.
Despite these rising costs, the federal government has not yet approved another tariff hike, possibly due to the current economic challenges in the country. The ongoing foreign exchange crisis and inflation rates are also impacting electricity production costs, prompting calls for a reevaluation of tariffs across all customer bands to ensure financial viability for power companies.
The Federal Government trains 500 women and youths in food production and agriculture. The programme was started to support food security.
The Federal Ministry of Agriculture and Food Security partnered with the National Horticultural Research Institute (NIHORT).
The women and youths were taught tomato, okra and Telfairia production techniques. The government believes this will help boost agriculture, improve food production and strengthen the economy in Ogun State.
According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.
The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
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