Federal Government has approved a new electricity tariff that will make Nigerians pay more for electricity use.According to Daily Sun, the increase is coming because of complaints of
poor power supply by distribution companies despite the privatization
of the PHCN successor firms.
The chairman of Nigerian Electricity Regulatory Commission (NERC),
Mr. Sam Amadi disclosed the new tariff in Abuja, when he signed a N213
billion memorandum of understanding (MOU) with the chief executives of
Deposit Money Banks (DMBs) and the Central Bank of Nigeria (CBN)
Read what Sam Amadi Said about the new Tarrif below
NERC will ensure that the tariff is ready and by tomorrow
(today), we will approve the tariff which is already well known to the
CBN, the transaction advisers as well as the participants in the deposit
management bank.
“That tariff is guaranteed and it is going to come into effect tomorrow (today) and it allows for full recovery and it allows that there is no risk that is not going to be fully covered in the transaction.”
He also said the new tariff “allows for full recovery and it allows that there is no risk that is not going to be fully covered in the transaction.”
He continued, “while we ensure that the tariff is cost reflective, it will not constitute a burden on consumers immediately.
“For the avoidance of doubt, there will be no increase for
residential consumers for, at least, six months until we begin to see
improvement.
“We expect that with more gas coming to the power plant because of these facilities and other interventions, in the next two, three months, there will be increase in capacity.
“There will be more reliability and the metering plan that is ongoing, we will be able to ensure that consumers will be much more comfortable.
“We will approve the tariff by tomorrow (today) which is already well known to the Central Bank of Nigeria and the transaction advisers, as well as the participants from the deposit money banks. That tariff is guaranteed. It is going to come into effect by tomorrow (today)
“That tariff is guaranteed and it is going to come into effect tomorrow (today) and it allows for full recovery and it allows that there is no risk that is not going to be fully covered in the transaction.”
He also said the new tariff “allows for full recovery and it allows that there is no risk that is not going to be fully covered in the transaction.”
“We expect that with more gas coming to the power plant because of these facilities and other interventions, in the next two, three months, there will be increase in capacity.
“There will be more reliability and the metering plan that is ongoing, we will be able to ensure that consumers will be much more comfortable.
“We will approve the tariff by tomorrow (today) which is already well known to the Central Bank of Nigeria and the transaction advisers, as well as the participants from the deposit money banks. That tariff is guaranteed. It is going to come into effect by tomorrow (today)
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