New electricity tariffs seen shocking consumers

The new cost-reflective tariffs are expected to shock millions of Nigerians, most of who are struggling to make ends meet. The adoption of cost-reflective tariffs is aimed at fixing Nigeria's chronic power shortages that have crimped economic growth. On January 30, Olu Verheijen, special adviser to President Bola Tinubu on energy, said Nigeria’s power prices needed to rise by about two-thirds (66 percent) for many customers to reflect the actual cost of electricity supply. In another statement on February 3, Verheijen said her statemen