‘Electricity Tariff May Hit N350/kWh Over Gas Subsidy Removal’

The cost of electricity in Nigeria may rise sharply, with the Band A tariff projected to exceed N350 per kilowatt-hour by 2029, following the Federal Government’s plan to remove the domestic gas subsidy by 2028.
This was disclosed by the deputy managing director of RT Briscoe and Chairman, Auto & Allied Sector of the Lagos Chamber of Commerce and Industry (LCCI), Dr Femi Eguaikhide, in his analysis of the implications of the proposed policy.
According to him, the planned removal of the gas subsidy is perhaps the most consequential energy decision since the petrol subsidy removal and will have a direct impact on CNG, LNG, and electricity for businesses and end users.
He noted that ov...