BUSINESS 

FG review electricity tariff next month

The Federal Government is to carry out a review of electricity tarrifs next month, which will be implemented  in January. This to promote efficiency in the sector currently battling problems such as liquidity and poor service delivery due to lack of many deficient consumables required to deliver power to consumers.

Electricity tarriffs that are integral to the growth of the sector vary from one firm to another, depending on how customers are classified.

Before now, the government, through the Nigerian Electricity Regulatory Commission (NERC), this year approved five minor electricity tarriff reviews, that were pending since June 2016, a development which has caused a spike in the cost of electricity.

In its latest reports, NERC said the reviews approved were for the periods before 2018, adding that it was yet to approve a review of the tarriff for the first half of 2019. It said the tarriffs covered more than eight million customers in the books of the 11 power distribution companies (DisCos) in the country.

The issue has generated public outcry, as members of the organised labour have criticized the measure, describing the development as unfortunate. It argued that  industry was struggling to provide enough power to meet the growing needs of Nigerians.

While this lasted, the commission is working on how to review major tarriffs by  next month, which would be implemented in January.

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