The Federal Government of Nigeria has approved the implementation of a hike in electricity tariff.

The upward review was confirmed by the chairman of the Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba, on Wednesday who said the new rates are effective from January 1, 2024.

He, however, added that the government has decided to continue to subsidize electricity this year, hence consumers may not feel the impact of the upward review in tariff because the government would be paying the differential.

Asked for how long the government will pay the subsidy, Garba said: “Any time the government takes a decision on subsidy, we will take it into consideration in our next tariff.

“In other words, even if there is an upward review of the cost of electricity, the government will be absorbing the increase for as long as it can.”