Electricity Tariff: FG Clarifies Position, Says Adjustments Minor

Hamilton Nwosa
Writer

Ad

BREAKING! Alleged $7.2bn Fraud: EFCC Quizzes Ex-NNPCL Boss, Mele Kyari

By Abiola Olawale The immediate past Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has reportedly been grilled on Wednesday by the Economic and Financial Crimes Commission (EFCC) over allegations of multi-billion-dollar fraud. Reports emerging on Wednesday revealed that Kyari voluntarily appeared before the EFCC to answer questions…

NNPC Boss, Kyari Supports Subsidy Removal Say FG Owes His Company N2.8tn

Akpabio vs. Natasha: Ezekwesili accuses Senate is leading a misadventure to destroy Democracy, rule of law in Nigeria

By Abiola Olawale In a scathing open letter released on Wednesday, a former Nigerian Minister of Education and renowned public policy advocate, Dr. Obiageli Ezekwesili, has accused the Nigerian Senate, led by President of the Senate, Senator Godswill Akpabio, of alleged constitutional violations. Ezekwesili claimed that the Senate allegedly assaulted democratic principles by refusing to…

Arise IIP raises $700m in Africa infrastructure deal, welcomes Saudi Vision Invest as shareholder

By Obinna Uballa Arise Integrated Industrial Platforms (Arise IIP), a pan-African developer and operator of industrial zones, has secured $700 million in fresh capital, marking one of the largest private infrastructure transactions in Africa. The deal, announced Wednesday in Dubai, sees Saudi Arabia’s Vision Invest join as a new shareholder alongside founding investors such as…

Ad

The Nigerian Electricity Regulatory Commission (NERC) has cleared the air over raging controversy over reported hike electricity tariff by over 50 per cent.

According to the electricity regulatory body,  the rates for service bands A, B, C, D and E were insignificantly  adjusted by NGN2.00 to NGN4.00 per kWhr.

The Commission in a statement  by its spokesman, Micheal Faloseyi rationalized  the adjustment on ground that it is a reflection of existing  impact of inflation as well as changes in forex dynamics which have greatly affected the NERC operations.

The electricity regulator body further disclosed that its customers on service bands D and E are not affected by this latest adjustment.

The NERC statement as released by Faloseyi reads  thus: “The attention of the Commission has been drawn to publications in the print and electronic media misinforming electricity consumers that the Commission has approved a 50% increase in electricity tariffs.

“The Commission hereby state unequivocally that NO approval has been granted for a 50% tariff increase in the Tariff Order for electricity distribution companies which took effect on January 1, 2021.

“On the contrary, the tariff for customers on service bands D & E (customers being served less than an average of 12hrs of supply per day over a period of one month) remains frozen and subsidised in line with the policy direction of the FG.

“In compliance with the provisions of the EPSR Act and the nation’s tariff methodology for biannual minor review, the rates for service bands A, B, C, D and E have been adjusted by NGN2.00 to NGN4.00 per kWhr to reflect the partial impact of inflation & movement in forex.

“In the light of strong public interest on this matter, the media is hereby requested to retract their earlier publications misinforming electricity consumers nationwide about a purported 50% increase in electricity tariffs.

“The Commission remains committed to protecting electricity consumers from failure to deliver on committed service levels under the service-based tariff regime.

“Any customer that has been impacted by any rate increases beyond the above provision of the tariff Order should report to the Commission at [email protected].”

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp