Monies paid by the Federal Government as electricity subsidies increased to N199.64 billion in December 2024, according to data sourced from the Nigerian Electricity Regulatory Commission. The recently released “December 2024 Multi-Year Tariff Order” report reveals that electricity subsidies increased by 2.76% to N199.64 billion in December, up from N194.26 billion in November. The Nigerian…
According to the newly released report, ‘December 2024 Multi-Year Tariff Order,’ electricity subsidies rose by 2.76 per cent to N199.64 billion this month from N194.26 billion in November. NERC explained that the rise in the exchange rate, which it pegged at N1,687.45 to the dollar, the increase in inflation to 33.9 per cent, and changes…
In the first quarter, none of the four international bilateral customers supplied by the power generation companies made payments against the cumulative invoice of $14.19m. The Nigerian Electricity Regulatory Commission revealed this in its latest second-quarter 2024 report. Out of the $15.60m invoice issued by the market operator between April and June, the international customers…
