According to the NERC’s Vice Chairman, Musliu Oseni, Band A, customers will begin to pay N225 kilowatt per hour from the current N66. Band A customers are those who enjoy 20 hours of electricity supply daily and they make up 15 per cent of the 12 million electricity customers in Nigeria.

The NERC Vice Chairman however clarified that the review would not affect customers on the other bands.

Earlier, the Minister of Power, Adebayo Adelabu, in trying to justify the increase in the price of electricity said Nigerians who were moved to Band A now spend less money on the purchase of diesel and petrol to fuel their generator.

Reacting, Fadeyi said this is not the case and he still spends so much on electricity and on diesel.

Fadeyi said, “I spend N1m on electricity and another N1m on diesel. This is excluding how much I spend on my businesses.

“If the electricity was good, I wouldn’t spend that much on fueling my generator.”

Fadeyi added that the NERC should put more effort into performing its regulatory role to allow for effectiveness.

Related posts:

NYC is named the billionaire capital of the world as it’s revealed the Big Apple houses 136 billionaires Lagos court sentences woman and her sponsor to 4 years imprisonment for attempting to smuggle cocaine to Saudi Arabia Ex-Marine Daniel Penny indicted over chokehold death of homeless black man Gabon coup: Army cancels elections and seizes power Romance scam: EFCC returns $26,000 to 70-year-old British woman duped by internet fraudster posing as American entertainer Joe Biden, 81 and Donald Trump, 77, both clinch enough delegates to be nominated for US 2024 presidential election Lebanese migrant detained at US border claims ‘he was going to try and make a bomb’ Police arrest dismissed soldier and one other for robbery in Abuja