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.
‘It is disingenuous to accuse everyone who calls for restructuring as trying to break up the county. History tells us that that kind of cheap blackmail will not work as long as the underlying reasons for the agitations persist.’
‘The biggest challenge seems to be that we seem to be allowing moderate voices on this issue to be drowned out by the reckless utterances of a few rabble rousers on all sides who may be tools in the hands of those who do not wish this country well. These are some of the people who arrogate to themselves the toga of spokespersons of our diverse groups.’
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