The Nigerian Electricity Regulatory Commission,NERC has approved a new price regime of over 50% hike in electricity tarriffs begining January 1,2021.
The development is coming two months after another terrific hike was imposed on Nigerians.
NERC’s revised Multi Year Tarriff Order signed by its new Chairman,Engr.Sanusi Garba,on December 30,2020 said the new tarriff increase took effect on January 1,2021, and supercedes the previous Order,NERC,/ 2028/2020.
The Commission said it considered the 14.9% inflation rate rise in November 2020,in its new Order,NERC/225/2020. Others that neccessitated its decision are foreign exchange of N379.4/$1 as of December 29,2020, available generation capacity,US inflation rate of 1.22% and the Capital Expenditure of the power firms to raise the tarriff.
What the new order means is that customers in all 11 electricity Distribution companies,DISCOS are affected by the new increase in tarriff.
A resident of the Federal Capital Territory FCT who spoke with current matters said governmentt has found a new way of milking Nigerians to further depression by the introduction of incessant hikes in electricity tariffs at a time Nigerians are going through a most challenging period .
He said’ if this is a joke,let Government stop it. This has gone too far. They cannot stretch us like this. Is it because we keep quiet? What kind of unpopular policy is this that cannot feel the pulse of the people?” He asked.
Saliha a tailor simply said,”No one can play God. Anyone who thinks the hardship being suffered by poor people will make him happy let him make merry.but there is a judgement day. How do they want us to cope? We are still affected by Covid-19, businesses have not peaked since last year and they are increasing electricity bill again? Let them continue” she said.
