The Federal Government has dismissed reports that it is planning to significantly increase Electricity Tariffs in the country.
Recall that the Nigerian Electricity Regulatory Commission (NERC) had announced that it is set to introduce another tariff review for the 11 distribution companies (DisCos).
In a notice posted on its website on Monday, the NERC said the extraordinary tariff review is as a result of changes in inflation, foreign exchange, gas prices, available generation capacity and capital expenditure.
The commission stated that the review is expected to begin in July.
But reacting in a post on his Twitter handle on Saturday, Nigeria’s Minister of Power, Sale Mamman said instead of significant hike in electricity tariff, Nigerians should expect an increase in efficiency in the sector.
”The review planned by @NERCNG is in accordance with Section 76 of the Electric Power Sector Reform Act of 2005. 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 subsidized in line with the policy direction of the Federal Government.
“Section 76 of the Electric Power Sector Reform Act of 2005 provides clear guidelines for the periodic review of tariff (based on market data and submissions from licensees).The guidelines include the provision that the Commission shall give notice of activities related to tariff.
“The Multi-Year Tariff Order (MYTO) per NERCs regulation obtains inputs from operators in the market every 6 months to perform minor reviews and a major review is required every 5 years. Thus, as in January a minor review will occur in June. Given the timing for the extraordinary review has also elapsed, a review will occur for consideration in January 2021.
“The Buhari administration remains faithful to the adopted resolutions from the Joint FGN-NLC/TUC Technical Committee on Electricity Tariffs which makes recommendations for
“NERC to conduct an extraordinary review of the MYTO to further review factors and align them with current evolving realities.
“The reason this recommendation was posited by the Committee was to ensure that efficiencies could be derived from an extraordinary review to further reduce tariff.
“Government is committed to increasing supplied energy to the grid through rapid expansion of infrastructure through the various facilities for the sector either to the DISCOS under strict terms or to the Transmission Company of Nigeria.
”Furthermore, the National Mass Metering Program is on course to reduce losses. To date more than 500k meters have been delivered to DISCOs in phase 0 of the program in 5 months (this exceeds the progress done for the entire MAP scheme).
“We will eliminate the metering gap during the life of this administration. This administration is not unaware of the challenges that Nigerians face which is why govt has continued to subsidise the band D and E consumers to pre-Sept 2020 rates (55% of grid connected customers),” he added.
Credit: News – Gistlover
- Women’s FA Cup Round of 32 draw heldIn GhanaMay 10, 2021Advertisement The draw for the round of 32 of the 2020/21 Women’s FA Cup season took place on Monday, May 10, 2021. The Teams were grouped into five ...[Read more]
- Nigerians in diaspora with expired passports can come back home for renewal – FGIn Nigeria NewsMay 10, 2021Minister of Interior, Rauf Aregbesola, says Nigerians in diaspora with expired passports can return home for the renewal “without fear of ...[Read more]
- COVID-19: FG re-imposes curfew, restriction on mass gatheringIn Nigeria NewsMay 10, 2021The Federal Government has re-introduced a nationwide curfew to curtail further spread of COVID-19. National Incident Manager, Mukhtar Mohammed, ...[Read more]
- No Body Has A Manual To Keep A Man – Nkechi Blessing Subtly ShadesIn Nigeria NewsMay 10, 2021ADVERTISEMENT Actress Nkechi Blessing has subtly shaded her colleagues whose marriage has ended saying no one has a manual to keep a man and a ...[Read more]
- “There’s nothing worse than a broke famous person” – DJ Big NIn Celebrity NewsMay 10, 2021Nigerian hip-hop Dj Big N dishes out advice to entrepreneurs and his fans as he disclosed there’s nothing worse than a broke famous person. Big N ...[Read more]
- NYC shootings keep soaring, up 86 percent over 2020: NYPD dataIn USAMay 10, 2021The gun violence in Gotham more than doubled last week — capped by a wild shooting in Times Square that left a 4-year-old girl among three people ...[Read more]
- “Nobody has a manual to keep a man” – Nkechi Blessing renders advice to ladiesIn Celebrity NewsMay 10, 2021Nollywood actress, Nkechi Blessing Sunday has disclosed that there’s no manual in keeping a man that has refused to stay with his woman. She took to ...[Read more]
- I No Get Sugar Daddy, Pls Patronize Me – Tacha Cries Out (Video)In Nigeria NewsMay 10, 2021ADVERTISEMENT BBNaij a star Tacha ADVERTISEMENT has cried out to her fans and followers and all Nigerians begging them to patronize her as she ...[Read more]
- Leopard still on the loose a week after escaping from Chinese zooIn LifestyleMay 10, 2021This big cat is still on the lam. Weeks after three leopards escaped from an eastern China safari park, one is still at large — and the park is ...[Read more]
- NYC subway stations will now offer COVID-19 vaccinesIn USAMay 10, 2021Some Big Apple subways and LIRR and Metro-North stations are being turned into pop-up COVID-19 vaccination sites this week in an effort to boost ...[Read more]