In a move approved by the regulatory authority, Ibadan Electricity Distribution Company (IBEDC) has increased electricity tariffs for its Band A residential customers.
According to IBEDC’s Acting Managing Director, Francis Agoha, the tariff for this customer category has risen from ₦206.80 per kilowatt-hour (kWh) to ₦209.50/kWh. The hike, which took effect immediately, was sanctioned by the Nigerian Electricity Regulatory Commission (NERC).
In a public statement, Agoha cited several economic factors behind the tariff adjustment, including fluctuations in the exchange rate, high inflation, generation capacity limitations, and rising gas costs. He stressed that these pressures have significantly impacted IBEDC’s operational expenses, necessitating the tariff increase.
Notably, the revised tariffs apply only to Band A residential customers. Rates for other consumer categories – Bands B, C, D, and E – remain unchanged at this time.
“We understand that any change in tariffs can be a concern for our customers,” Agoha acknowledged. “However, this adjustment is necessary to maintain and improve the quality of our electricity services and ensure you receive the best possible value.”
The IBEDC executive assured consumers of the distribution company’s continued commitment to reliable power supply across its network.
