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September 20, 2019
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FG Denies Increase In Electricity Tariff

FG Denies Increase In Electricity Tariff

FG Denies Increase In Electricity Tariff

The Nigerian Electricity Regulatory Commission has said that no tariff increase has been approved by the commission yet.

In a statement, Mr Usman Arabi, NERC’s General Manager, Public Affairs, on Friday, in Abuja, said it was still consulting with stakeholders.

He said that the commission wished to notify the public that no tariff increase had been approved by the commission contrary to the impression in some quarters.

“However, the commission in the discharge of its statutory responsibilities enshrined under the Electric Power Sector Reform Act, shall continue to undertake periodic reviews of electricity tariffs in accordance with prevailing tariff methodology.

“In all instances of such reviews and rule-making, the commission shall widely consult stakeholders and final decision shall be taken with due regard of all contributions,” he said.

Arabi said that the commission wished to clarify that the minor review implemented by the commission was a retrospective adjustment of the tariff regime released in 2015

He said that this was to account for changes in macroeconomic indices for 2016, 2017 and 2018.

(NAN)

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