Nigerian Government Reduces Electricity Tariff By 50 Percent
Definitely looks like the government is unaware of the high rate being charged on end users on power and has taken a drastic measures to stop this exploitation.
The Nigerian government has announced a reduction in electricity tariffs by half.
The Nigerian Electricity Regulatory Commission on Wednesday announced the immediate review of electricity tariffs by about 50 per cent.
The Chairman of the Commission, Sam Amadi, who announced the review in Abuja, said the reduction, which takes effect from the end of March, followed the regulatory agency’s decision to remove collection losses from customer tariff under the multi-year tariff order.
Mr. Amadi said following the approval of the multi-year tariff order, MYTO 2.1 in January 1, 2015, the Commission had received several complaints and petitions against the decision, which resulted in astronomical increases in tariff across the different consumer categories.
“The Commission has been listening to consumers’ complaints and taking full account of the impact of the high tariff on consumers and the Nigerian economy,” Mr. Amadi said.
“Therefore, the Commission has reviewed the basis of the MYTO 2.1 assumptions and has determined that it is inappropriate to transfer to consumers collection losses that are controllable by the DISCOs (distribution companies),” he announced.