Home World News Nigeria News FG speaks on electricity tariff increase
Nigeria News

FG speaks on electricity tariff increase

Share
fg speaks on electricity tariff increase
Share
3C8AFE76 F8FB 45CB 92EE 123CCE9E2B4A

The Nigerian Electricity Regulatory Commission (NERC), says no tariff increase has been approved by the commission yet.

Mr Usman Arabi, NERC’s General Manager, Public Affairs, in a statement 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 (EPSR) 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 provide guidance 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, “thus providing certainty about revenue shortfall that may have arisen due to the differential between tariffs approved by the regulator and actual end-user tariffs,” he said.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

Related Articles
Angelique Kidjo becomes first African to receive star on Hollywood Walk of Fame
Nigeria News

A Historic Moment on the Hollywood Walk of Fame: Angelique Kidjo Shines Bright

Grammy-winning Beninese singer Angelique Kidjo is poised to make history history as...

I'm getting old, need to start having children - Burna Boy
Nigeria News

Burna Boy Mulls Over Starting a Family: “I Think I’m Getting Old”

Grammy-winning Nigerian singer, Damini Ogulu, popularly known as Burna Boy, said he’s...

Actor Peter Ijagbemi ties knot with lover, Folajogun Akinlami
Nigeria News

A New Chapter Begins: Peter Ijagbemi and Folajogun Akinlami’s Quiet Union

Nollywood star, Peter Ijagbemi, has tied the knot with Folajogun Akinlami, his...

Life abroad not rosy – Tacha opens up on Nigerians struggling in UK
Nigeria News

The Untold Reality of Life Abroad: What Tacha Shared About Nigerians in the UK

Reality TV star and influencer, Tacha Akide, has sparked conversation online after...