BREAKING: NERC denies approving 50% increase in electricity tariff

BREAKING: NERC denies approving 50% increase in electricity tariff

– The NERC has reacted to viral reports that it approved a fresh hike in electricity tariff

– The commission in a statement revealed that no such increment was included in the tariff order

– Recall that Nigerians on Tuesday, January 5, were shocked to learn they would have to pay more for electricity in 2021

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Amid outrage that the federal government approved a fresh hike in electricity tariff, the Nigerian Electricity Regulatory Commission (NERC) has refuted the report of a 50% increment. gathered that the commission in a series of tweets via its Twitter handle @NERCNG on Tuesday, January 5, said no approval was granted for such an increase that took effect on January 1, 2021.

The commission further noted that no 50% increment was approved in the tariff order for electricity distribution companies.

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Electricity tariff: No 50% increase, we only raised kilowatt from N2 to N4, says NERC

NERC says it did not approve a 50 per cent increase in electricity tariff.
Photo credit: George Osodi
Source: Getty Images

The NERC explained that it only raised the kilowatt rates for service bands A, B, C, D, and E from N2 to N4 to reflect the partial impact of inflation and movement in forex.

Meanwhile, reported that the federal government and labour unions agreed to temporarily subsidise the electricity tariff for three months following the massive outrage over the new tariff.

The resolution was reached at the end of a long meeting of the ad-hoc technical committee on electricity tariff between representatives of the federal government, Nigeria Labour Congress (NLC), and the Trade Union Congress (TUC).

This was made known in a communique released by the minister of state for labour and employment, Festus Keyamo, in a series of tweets via his Twitter account @fkeyamo on Monday, October 12, 2020.

In a related development, after sealing a deal with organised labour, the federal government on Thursday, October 29, 2020, said the collection of Service-Based Electricity Tariffs (SBT) will resume.

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This development was confirmed by Ahmad Zakari, the special adviser on infrastructure to President Muhammadu Buhari, during the 51st virtual Power Dialogue in Abuja, organised by Nigeria Electricity Hub.

The federal government had suspended the new electricity tariff following a massive outrage capped by the partially aborted nationwide protest of the organised labours.

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