What do you believe is the single most important factor driving up the cost of living in Nigeria?

The recent development represents a significant setback in the manufacturers’ efforts to reverse the electricity tariff to its previous price.

MAN had labelled the hike in power tariff as detrimental to economic growth and the overall stability of the market.

It challenged the review of the electricity tariff by the Nigerian Electricity Regulatory Commission and filed a lawsuit at the Lagos Judicial Division of the Federal High Court.

The power sector regulator in its supplementary Multi-Year Tariff Order of April 3, 2024, noted that after considering the macroeconomic environment, it found it necessary to approve an increase in tariff for Band ‘A’ to N225/kWh. It later reduced the rate to N206/kWh.

The statement read in part, “A Federal High Court sitting in Lagos has struck out a case by the Manufacturers Association of Nigeria challenging the implementation of electricity tariff review by the Abuja Electricity Distribution Company Plc and 11 others.”

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