The Ibadan Electricity Distribution Company Plc (IBEDC) has announced a tariff hike for Band A customers, raising the rate from N206.80/kWh to N209.50/kWh.
This increase has been approved by the Nigerian Electricity Regulatory Commission (NERC).
IBEDC, in a statement on Wednesday by its Acting Managing Director, Francis Agoha, explained the rationale behind the tariff adjustment which takes immediate effect.
“Effective immediately, the tariff will be adjusted from N206.80/kWh to N209.50/kWh. This review has been duly approved by the Nigerian Electricity Regulatory Commission (NERC) as captured in the multi-year tariff supplementary order,” Agoha said.
He highlighted several economic factors driving the increase to include exchange rate fluctuations, inflation, generation capacity and costs of gas.
“These factors have significantly impacted operational costs, and the new tariff will mitigate these financial pressures while continuing to deliver high-quality electricity services,” he said.
The tariff adjustment affects Band A customers, with tariffs for Bands B, C, D, and E remaining unchanged.
“We remain committed to providing reliable and efficient electricity services to all our customers across different bands,” Agoha assured.
Understanding the concerns of customers regarding tariff changes, Agoha emphasised the necessity of the adjustment to maintain and improve service quality.
“Our goal is to ensure that you receive the best possible value for your money,” he stressed.