Again, Nigeria increases electricity tariff by 50%
London, Jan. 5, 2020 (AltAfrica)-Nigeria has slam yet another increase in the price of electricity on its teeming citizens despite the fact that Nigerians are yet to come to terms with the last increase in electricity tariff
The new increment is coming barely two months after the implementation of the controversial hike proposed in October, year 2020
Nigerian Electricity Regulatory Commission (NERC) has enforced a new Multi Year Tariff Order (MYTO), increasing electricity bill by over 50 per cent across the country, a leading Nigerian Newspaper, The Guardian reports
Alternativeafrica.com understands new tariff increase took effect on January 1, 2021.
In the new order, tagged NERC/225/2020, NERC dated December 30, 2020 and signed by NERC Chairman, Sanusi Garba overruled the previous order and empowered the 11 DisCos to increase tariff by 50 per cent citing prevailing economic realities, especially inflation and exchange rate.
The new document based its decision by current inflation of 14.9 per cent iN379.4/$1 exchange rate.
Labour unions and the Federal Government had been at loggerhead following increase in the pump price of premium motor spirit as well as the increase in electricity tariff.
After series of outrage and outright rejection by consumers who cited poor power supply and the impacts of Covid-19, DisCos had in October last year started the implementation of a service-based reflective tariff (SRT) structure after backing by an approval from President Muhammadu Buhari.
All classes of consumers, except those who enjoy a few hours of power supply would pay more for electricity until June this year