The fall in the value of the naira has caused Nigeria’s average electricity tariff to drop by 48% in the past four years, the Vanguard newspaper has reported, citing World Bank figures.
The average figure has fallen from $0.15/kWh in 2014 to $0.08/kWh currently, which means electricity prices in Nigeria are roughly 60% lower than elsewhere in West Africa and no longer reflect costs.
The problem has caused a shortfall for distribution companies of NGN 456 billion ($1.25 billion) between 2015...
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