The Federal Government has again increased the electricity tariff payable by power consumers across the country.
Approval for the hike in tariff was given by the Nigerian Electricity Regulatory Commission (NERC), as the increase which varies, based on different consumer classes, took effect from January 1, 2021. A few hours after the news of the tariff hike broke, the NERC issued a statement, denying a 50 per cent hike as had been reported in some circles (excluding THE PUNCH). The regulatory agency blamed N2 to N4 adjustment in tariff on inflation and movement in foreign exchange rates.
However, the Trade Union Congress (TUC) issued a stern warning, asking the Federal Government to revert to old electricity tariff or face the consequences of its action. The NERC had announced the tariff hike in its December 2020 minor review of the Multi Year Tariff Order and Minimum Remittance Order obtained by our correspondent in Abuja on Tuesday.
The tariff increase is taking effect just two months after the government through NERC implemented a hike in November 2020, which saw widespread opposition.
The MYTO order containing the latest tariff hike, Order NERC/225/2020, was signed by the new Chairman of NERC, Sanusi Garba, and it supersedes the previous Order NERC/2028/2020.
Credit: THE PUNCH)