Nigerians will have to start gearing up for a hike in electricity tariff soon.

The Nigerian Electricity Regulatory Commission has stated that it is waiting for final approval from the Federal Government before implementing the new rate.

According to NERC, the actual tariff for one kilowatt-hour of power is meant to be N51, as against the current unit cost of N31.58 for which electricity distribution companies are selling the commodity.

NERC explained that the actual tariff of N51/KWH was arrived at based on the economic fundamentals considered when carrying out minor tariff reviews,

It added that the commission has completed the process for the new tariff but is yet to receive approval from the Federal Government to announce its implementation.

It disclosed this at a training programme in Abuja.

FOR MORE INTERESTING STORIES, DOWNLOAD BOUNCE NEWS APP HERE

IPOB AGITATION: WHY NIGERIANS MUST OPPOSE VIOLENT PROTESTS IN THE SOUTH-EAST