Nigeria electricity prices

Nigeria
Electricity prices
 Residential price 0.016
 Business price 0.026
 Measure USD / kWh
 Reference September 2023
 Data availability March 2019 - March 2024
 Data frequency Quarterly
Nigeria, September 2023: The price of electricity for households is NGN 22.630 per kWh or USD 0.016 per kWh. The electricity price for businesses is NGN 36.070 kWh or USD 0.026 per kWh. This includes all components of the electricity bill such as the cost of power, distribution and taxes. For comparison, the average price of electricity in the world for that period is USD 0.156 per kWh for households and USD 0.152 per kWh for businesses.

We calculate several data points at various levels of electricity consumption for both households and businesses but on the chart we show only two data points. For households, the displayed number is calculated at the average annual level of household electricity consumption. For businesses, the displayed data point uses 1,000,000 kWh annual consumption.

The latest business and household electricity price data from March 2024 are available for download.
Electricity prices for households, September 2023
(kWh, U.S. Dollar)
0.002
0.003
0.006
0.006
0.006
0.008
0.013
0.014
0.015
0.015
0.016
0.017
0.020
0.021
0.023
0.026
0.026
0.028
0.029
0.029
0.032
0.040
0.044
0.046
0.047
0.047
0.048
0.048
0.050
0.051
0.052
0.053
0.053
0.055
0.059
0.061
0.064
0.065
0.065
0.067
0.069
0.073
0.075
0.076
0.077
0.078
0.080
0.083
0.087
0.088
0.090
0.090
0.093
0.095
0.096
0.097
0.100
0.108
0.110
0.113
0.113
0.113
0.115
0.116
0.118
0.120
0.121
0.121
0.123
0.124
0.125
0.127
0.131
0.131
0.133
0.137
0.140
0.143
0.145
0.146
0.149
0.150
0.155
0.156
0.156
0.161
0.163
0.168
0.169
0.170
0.172
0.175
0.175
0.177
0.180
0.181
0.184
0.184
0.185
0.192
0.193
0.197
0.198
0.202
0.204
0.205
0.206
0.209
0.210
0.210
0.212
0.213
0.215
0.216
0.217
0.217
0.222
0.232
0.233
0.238
0.239
0.245
0.250
0.254
0.256
0.267
0.281
0.281
0.284
0.296
0.310
0.312
0.312
0.331
0.333
0.347
0.349
0.358
0.368
0.401
0.402
0.421
0.434
0.446
0.448
0.453
0.461
0.537
0
0.1
0.3
0.4
0.54
Sources: Nigerian Electricity Regulatory Commission, The National Bureau of Statistics (NBS), The National Bureau of Statistics (NBS)
Nigeria: Electricity price analytics
   Values
 Residential / World average price    18.83 %
 Residential / Africa average    25.08 %
 Business / World average price    30.42 %
 Business / Africa average    44.10 %
 Residential / Business price    62.74 %
 Low / High income households    17.68 %
 Small / Large businesses    98.14 %
Updated quarterly. Methodological notes
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