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Suspension Of New Electricity Tariff Extends By One Week – FG

The Federal Government has extended the suspension of the new electricity tariff by one week.

Prof. James Momoh, Chairman, Nigeria Electricity Regulatory Commission, said this when the ad hoc Technical Committee on Electricity Tariff submitted its interim report at a reconvened bilateral meeting between the Federal Government and Organised Labour on Monday in Abuja.

Suspension Of New Electricity Tariff Extends By One Week - FG
Suspension Of New Electricity Tariff Extends By One Week – FG

The new tariff was earlier suspended for two weeks and this elapsed at midnight on October 11.

The tariff was suspended when organised labour suspended the planned industrial action over agitation on the hike in electricity tariff on September 28.

It would also be recalled that the committee, which was Chaired by Festus Keyamo, Minister of State for Labour, was to examine the justifications for the new policy in view of the need for the validation of the basis for the new cost reflective tariff.

Momoh, while speaking, said the one week extension of the new tariff was to enable the committee to review and work out modalities for the implementation of the agreement reached on the electricity tariffs structure

Senator Chris Ngige, Minister of Labour and Employment, while reading a resolution reached by the Federal Government, Organised Labour and the Ad Hoc Technical Committee on Electricity Tariff, said the adoption of the work plan for effecting the resolutions has been reached.

Ngige said the resolutions adopted would be implemented by all stakeholders by October 18.

According to him, the following amendments to the resolutions were adopted, including phase one immediate reliefs:

“Using of the Nigerian Electricity Supply Industry (NESI) VAT proceeds to provide relief in electricity tariff. This is to  leverage on the VAT from the NESI, the increases experienced by customers due to the transition to the Service Based Tariff will be reduced.

“That is Band A – 10 per cert reduction, Band B – 10.5 per cert reduction and Band C – 31 reduction.”

Ngige said on the acceleration of National Mass Metering Programme, it was adopted that for the distribution of the first one million meters, the Ministry of Power was to liaise with Central Bank of Nigeria, NERC and Nigerian Electricity Management Services Agency.

He added that they are to start work by October 12 to accelerate the roll out of meters with a target of December 2020.

The minister, therefore said the meeting agreed that it would work towards bridging the metering gap.

“The Federal Government committed to provide six million meters and NERC is expected to compel the DISCOs to meet the metering needs of the customers,” he said.

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