The Federal Government has said it has no plans to significantly increase the tariffs paid for electricity in the nation, saying rather, Nigerians should expect an increase in the power sector’s efficiency.
This is in contrast to the Nigerian Electricity Regulatory Commission NERC‘s Monday announcement that another tariff review for Nigeria’s 11 power distribution companies will hold in July, which added that the review is a development that might lead to a rise in the tariffs payable by electricity users.
Speaking in a statement released via his official Twitter Speaking in a statement released via his official Twitter handle, the Federal Minister of Power, Sale Mamman on Friday said there is no plan to significantly raise electricity tariffs across the country. He, however, said the NERC’s review is in accordance with Section 76 of the Electric Power Sector Reform Act of 2005.
“My Fellow Nigerians, There is NO plan to significantly raise Electricity Tariffs! Instead of a significant hike in electricity tariff, Nigerians should expect an increase in efficiency in the sector to reduce tariffs while managing headwinds from foreign exchange and inflation”, the statement began.
He said: “The tariff for customers on service bands D & E (customers being served less than an average of 12 hours of supply per day over a period of one month) remains subsidized in line with the policy direction of the federal government.”
