There is going to be an upward review of the provisions of the Multi-Year Tariff Order (MYTO), which will see new electricity price in place. Stakeholders are suggesting an increase of about 400% which will see the price jump to 49Naira from 12.45/KWh
The new owners are concerned that stipulated tariffs in the draft of interim rules and regulations spelt out by the Nigeria Electricity Regulatory Commission (NERC), prior to their take-over of the plants, were inadequate to guarantee a healthy return on investment.
However, this position becomes conflicting because the reason behind the introduction of MYTO was to review the price upward as prospective investors in the power sector may find it difficult to review the tariff upward immediately.

The implication of this that if we have 24 HRs of light and total energy rating of your house hold is 2000watts which is Kw.

In 24 hrs you will consume 48Kwh and in 30 days 1440KWh

1440x49=70,000 naira per month!!!!!!!!!!!

Let those that have 24 hours light, for those in UNIPORT and ALUU that are in darkness its the same old rate.

otokx: Let those that have 24 hours light, for those in UNIPORT and ALUU that are in darkness its the same old rate.

is it that bad