After Announcing New Tariff for Customers, Electricity Company Increases Workers' Salary

After Announcing New Tariff for Customers, Electricity Company Increases Workers' Salary

  • Eko Electricity Distribution Company (EKEDC) has announced a salary increase for its employees
  • EKEDC's board of directors approved the raise, emphasising their commitment to employee well-being and maintaining exceptional customer service
  • The salary adjustment will apply to senior managers and below, while a 15% adjustment will apply to principal managers and above journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Eko Electricity Distribution Company (EKEDC) has announced a 20% cost of living adjustment for its employees, effective July 2024.

The company's board of directors approved the raise in response to the current economic climate, aiming to support the financial stability of its workforce.

EKEDC increases workers' salary amid Nigeria's rising hardship
EKEDC increase workers' salary Photo credit: Pius Utomi Ekpei
Source: Getty Images

EKEDC's statement emphasised the company's commitment to its employees' well-being.

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The statement read:

"The increment aims to support EKEDC's staff in maintaining their quality of life, ensuring they can continue delivering exceptional service to customers."

Why EKEDC is increasing workers' salary

Oritsedere Otubu, chairman of EKEDC's board of directors, praised the staff's dedication to improving customer service.

"Our employees are our most valuable assets, and their dedication to enhancing our customer service is truly commendable.
"We take pride in their unwavering commitment to success and, in turn, are dedicated to enhancing their well-being.
"This well-deserved adjustment underscores our ongoing commitment to continuous improvement as we work towards our goal of providing a safe, reliable, and uninterrupted power supply."

Otubu also urged other companies to follow EKEDC's lead in supporting their employees during these challenging economic times.

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Rekhiat Momoh, acting chief executive officer of EKEDC, expressed gratitude to the board for the salary adjustment, highlighting its importance in mitigating the effects of inflation and other economic pressures on staff.

Momoh stated:

"In these challenging times, it is crucial to support our dedicated employees who tirelessly serve our customers.
"This cost-of-living adjustment reflects our commitment to their well-being and our gratitude for their hard work.

Punch reports she explained that the 20% adjustment would be reflected in the next payroll cycle and apply to senior managers and below, while a 15% adjustment would apply to principal managers and above.

She added:

"This initiative highlights EKEDC's commitment to cultivating a nurturing and fulfilling work environment."

NERC announces new rate for electricity tariff

Meanwhile, earlier reported that the Nigerian Electricity Regulatory Commission reviewed the current electricity cost for the rest of the year.

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The review of its Multi-Year Tariff Order was prompted by the currency appreciation seen last month.

From the present N1,463.3/$, the regulator announced that the new rate is now N1,277.8/$ and will serve as the benchmark rate. NERC announced that the currency rate used to determine Band A consumers' current electricity cost has been lowered by 16.03%.

Proofreading by James Ojo Adakole, journalist and copy editor at


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Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: