The Nigerian Electricity Regulatory Commission, NERC, has reduced electricity tariff by 50 per cent. This is as a result of complaints by consumers over excessive charges and the payment for services not given. In February, the Steel Manufacturers warned that the new tariff will mean loss of jobs as the tariff has taken what would have been the slim margin in the business. The Manufacturers association which is the umbrella body also made a strong case for reduction of tariff if government wants business to survive.
The Chairman of NERC, Sam Amadi said on Tuesday that the DISCOs should stop passing their losses to the consumers. ‘It is clear that removal of the collective losses will lead to lower tariffs for consumers. The removal of collective from consumer tariff has reduced tariff by more than 50 per cent in some places. Please note that the reduction does not affect the Central Bank of Nigeria, CBN facility and its repayment,’ he said.
He further stated that ‘ NERC remains committed to the principle of cost- reflective pricing and to the development of an efficient and financially viable electricity market. These are important to support the investment that is needed to ensure the electricity supply industry meets the needs of the Nigerian economy.
“IPOB is being sponsored by those I will call the Coalition of the politically disgruntled and the treasury looters. They believe that by sponsoring this group to destabilize the country and trigger chaos, they will realize their ambition of escaping justice and then be free to dip their hands into the nation’s treasury again.”
-Lai Mohammed(Nigeria’s Information Minister on IPOB)
Restructuring: States step up push for more powers
Presidency’s N137b virement not listed as Senate, Reps return
Osinbajo to Meet National Assembly Leaders, CJN on Ease of Doing Business Action Plan
Royal Jordanian Air Force to collaborate with NAF on counterterrorism
Dubai’s self-flying taxi makes first concept flight
© CybokNews 2016 | All Rights Reserved