The Ibadan Electricity Distribution Company (IBEDC) has announced an increase in electricity tariffs for its Band A customers. The adjustment, effective immediately, raises the tariff from ₦206.80/kWh to ₦209.50/kWh. Francis Agoha, the acting Managing Director of IBEDC, clarified that this tariff revision has been approved by the Nigerian Electricity Regulatory Commission (NERC) under the multi-year Tariff supplementary order.
Agoha explained that the decision to increase tariffs was influenced by various economic factors such as fluctuations in the exchange rate, current inflation rate, available generation capacity, and the cost of gas. These factors have collectively increased operational costs for IBEDC, necessitating the adjustment to mitigate financial pressures while maintaining service quality.
He reassured customers that the tariff adjustment affects only Band A customers, with tariffs for Bands B, C, D, and E remaining unchanged. Agoha acknowledged that any tariff change could concern customers but emphasized that it was essential for sustaining and enhancing the quality of electricity services provided by IBEDC.
In conclusion, Agoha reiterated IBEDC’s commitment to delivering reliable and efficient electricity services across all customer bands, ensuring that customers receive the best possible value for their money amidst the economic challenges faced by the electricity sector.