News About Hike in Electricity Tariff Fake - IKEDC

By Starrys Obazei | June 27, 2023.

The Ikeja Electricity Distribution Company, IKEDC, has refuted the news that it will increase electricity tariffs for its customers by July 1, 2023.

A statement published on its official website on Monday, June 26, 2023, announced it.

Earlier, an online news platform reported on Sunday, June 25, 2023, that electricity distribution companies will increase their tariffs from July 1, 2023.

According to the report, the DisCos had, in statements sent to respective consumers via text messages on Sunday night, informed them across the country that the tariff increment would take effect July 1, 2023, stating that the review was due to the fluctuation of the naira in the exchange rate market.

IKEDC’s alleged message to its customers read: “Dear Customers, electricity tariffs are set to go higher on July 1 due to the floating exchange rate. MYTO 2022 set the exchange rate at N441/$1, which may now be adjusted to about N750/$1. We may be looking at a base tariff of N100 per kWh for Band C (12 – 16 supply hours per day).

“Bands A (20 hours and above) and B (16–20 hours) will be much higher. If you have a prepaid meter, buying bulk energy units for your home or office before the end of the month may help you make some savings before you have to buy at the new rate.

“For those on post-paid (estimated) billing, a significant increment is imminent in your monthly billing, starting in August. Please take note. Electricity units are set to jump by 30-40% in just over a week. You are best advised to buy as many units as you can before July 1.”

Further denying the report, the DisCo described the purported increment as fake news. It thereby urged its customers to disregard any report not issued by IKEDC.

The statement read: “Public Notice: Avoid Fake News. Dear Esteemed Customer, if the information is not from or on any of our social media handles, then it is not true.”

The statement further directed customers to always rely on its various information channels – Twitter, Instagram, Facebook, and website – for reliable updates and information on their services.

“Follow Ikeja Electric on Twitter, Instagram, and Facebook or visit for authentic information and updates”, the statement read.

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