The Ibadan Electricity Distribution Company (IBEDC) Plc has announced an increase in the electricity tariff for its Band A customers, with the new rate set at N209.50/kWh, up from N206.80/kWh. This change is effective immediately.

Engr. Francis Agoha, the acting Managing Director of IBEDC, stated that the Nigerian Electricity Regulatory Commission (NERC) has approved this adjustment as part of the multi-year tariff supplementary order.

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The statement explains that the tariff revision is driven by several economic factors, including fluctuations in the exchange rate, the current inflation rate, the available generation capacity, and the cost of gas.

These elements have significantly increased operational costs and the new tariff aims to alleviate these financial pressures while ensuring the continued delivery of high-quality electricity services.

“This adjustment affects only our Band A customers. Tariffs for Bands B, C, D, and E will remain unchanged,” Agoha said. “We remain dedicated to providing reliable and efficient electricity services to all our customers across different bands.

“We understand that changes in tariffs can be concerning for our customers, but this adjustment is necessary to maintain and improve the quality of our services. Our goal is to ensure that you receive the best possible value for your money.”