The Nigerian government has ordered the revised electricity tarriff reversed.
Nigeria’s Electricity Regulatory Commission received an order to suspend the latest adjusted electricity tariff in the wake of a public outcry.
The Minister of Power, Sale Mamman, announced it in a statement on Thursday.,
EKO HOT BLOG gathered.
On Tuesday, NERC raised the electricity rate payable by electricity customers across the country. The increase in rates, which varies depending on the different classes of consumers, came into effect from January 1, 2021.
The regulatory agency blamed the N2 to N4 adjustment of tariffs on inflation and exchange rate developments.
However, in a statement he made on Thursday, the minister stated that there was a committee working on the new electricity tariff regime and the committee should be allowed to complete its work before any development or adjustment.
Mamman, therefore, asked NERC to suspend the recent increase until the committee will complete its work by late January.
He said,
“The public is aware that the Federal Government and the Labour Centers have been engaged in positive discussions about the electricity sector through a joint ad-hoc Committee led by the Minister of State for Labour and Productivity and Co-Chaired by the Minister of State for Power. Great progress has been made in these deliberations which are set to be concluded at the end of January, 2021.
“It should be clear to all that the regulator must be allowed to perform its function without undue interference. The role of the Government is not to set tariffs, it is to provide policy guidance and an enabling environment for the regulator to protect consumers and for investors to engage directly with consumers. Bi-Annual Minor reviews to adjust factors such as inflation are part of the process for a sustainable and investable NESI.”