Nigeria to Raise Electricity Rates Up to 40% as Costs Increase

  • Weak naira, rising gas and infrastructure cost supporting hike
  • Rise expected by mid-November, may climb 5% for low-end users

Nigeria plans to increase electricity rates by as much as 40 percent for some customers next month as a fall in the value of the naira and rising costs hinder efforts to end daily blackouts in Africa’s largest economy.

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