Supplementary Order to the Multi-Year Tariff Order 2024

In January 2024, the Nigerian Electricity Regulatory Commission (NERC) made a significant commitment to reviewing electricity tariffs monthly, in response to changes in macroeconomic conditions, as outlined in the Multi-Year Tariff Order 2024 (MYTO 2024).

Over the past weeks and since the year began, NERC has issued several regulatory decisions, indicating a rise in competition within the retail market. A pivotal move in this direction was the full liberalization of tariffs for Band A customers in the Federal electricity market.

On 28 March 2024 (effective 3 April 2024) and 3 May 2024 (effective 6 May 2024), NERC continued its pledge to review end-use tariffs due to fluctuations in microeconomic conditions, issuing the April 2024 Supplementary Order and the May 2024 Supplementary Order to the Multi-Year Tariff Order – 2024 (the Regulatory Orders).

This newsletter analyses the Regulatory Orders, highlighting their potential impact on the Nigerian Electricity Supply Industry (NESI).

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