The electricity tariffs in Nigeria is about to increase in 2020 by up to 49% depending on where you are located in Nigeria.
In an effort to bring the electricity tariffs in Nigeria to “Cost Reflective”, a review of the tariffs for all distribution companies was done and will be in effect 2020.
As a business, power consumption is a major part of your operational cost. This increase in electricity tariffs has a direct impact on your profit margins and bottom line.
Here is the official increase based on your location and distribution company coverage in Nigeria detailed in the map below
Highest Tariff increase: Kano Distribution Company (+49%)
Lowest Tariff Increase: Jos Distribution Company (+24%)
Average Tariff Increase: +32%
Business leaders should plan for this increase in their 2020 budgets. Energy-intensive companies such as manufacturing and agriculture will need to adapt either by increasing their selling price or reducing their energy consumption through hybrid solar solutions.