- In April 2024, the electricity regulatory commission raised tariffs for customers under the Band A classification, increasing rates from ₦66 per kilowatt-hour to ₦225.
- The hike, coupled with economic hardships, has drawn widespread criticism from Nigerians already grappling with inflation and reduced purchasing power.
President Bola Tinubu has urged Nigerians to adopt a culture of conservation by turning off lights when not in use.
Tinubu noted that this simple habit would lead to lower electricity costs.
He made these remarks during a presidential media chat with journalists in Lagos State.
According to Tinubu: “It’s not negative to learn to manage. You learn to control your electricity bill, switch off the light, let’s learn to manage.”
Tinubu also expressed his disapproval of price control measures, stating that his administration would focus on supplying the market instead.
“I don’t believe in price control, we will work hard to supply the market,” he said.
Since taking office, the Tinubu administration has implemented significant policy changes, including a hike in electricity tariffs and the removal of fuel subsidies.
On April 3, 2024, the electricity regulator increased tariffs for Band A customers, raising the rate from N66 to N225 per kilowatt-hour.
This decision was met with widespread criticism, as it exacerbated the economic hardship faced by many Nigerians.
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