Tariff hike gets no approval yet – FG gives update on electricity tariff increment

The Federal Government of Nigeria has responded to claims of a reported electricity tariff increase on July 1.

According to Mr Michael Faloseyi, the Assistant General Manager, Public Affairs of NERC while responding to an enquiry from News reporter on Monday concerning electricity tariff increase by Electricity Distribution Companies, DisCos, the Nigerian Electricity Regulatory Commission (NERC) said there is yet to be an approval from the body.

He added that the commission has yet to approve electricity tariff increments.

“I can confirm that the Commission has not approved any tariff increase”, he told newsmen

NERC’s response comes against speculations of a 40 per cent electricity tariff increase.

The past three years had witnessed several upward electricity tariff adjustments have been implemented under the NERC’s Multi-Year Tariff Order, MYTO, in line with current economic realities, in this case, the inflation rate and the exchange rate of Naira at the foreign exchange window.

Leave a Reply

Your email address will not be published.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