Just In: FG increases electricity tariff again

An emerging report indicates that Nigerians would have to pay more for electricity in 2021, The Nigerian Electricity Regulatory Commission has explained why it approved a tariff hike.

The new increase may generate negative reactions from Nigerians, although the federal government has approved over 50% hike in electricity tariff payable by customers of the 11 Distribution Companies (DisCos). The hike was approved by the Nigerian Electricity Regulatory Commission (NERC), Daily Trust reported.

The publication stated that the new increase took effect on January 1, 2021, and supersedes the previous Order NERC/2028/2020, according to a revised Multi Year Tariff Order (MYTO) signed by the new chairman of NERC, Engr. Sanusi Garba.

The commission explained that it approved the hike due to the 14.9% inflation rate rise in November 2020, foreign exchange of N379.4/$1 as of December 29, 2020, and the available generation capacity. 774,000 recruitment.

And the new tariff will be effective till June 2021 while a Cost Reflective Tariff (CRT) expected to raise the new cost higher will be activated from June to December 2021. 

Meanwhile, DisCOS have been warned not to sell meters to Nigerians in any capacity. The warning was given by the federal government. Specifically, the federal government vowed to sanction anty Disco caught selling meters or asking Nigerians to pay money to get the item.

(Legit)