JUST IN: House of Reps orders suspension of increase in electricity tariff

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Nigeria’s Federal House of Representatives has ordered the suspension of a possible increase in electricity tariffs.

The House took a stand against a proposed increase on Tuesday, July 20, 2023.

According to reports, Honorable Aliyu Madaki moved the motion to reject the increase, which would create an additional cost burden on Nigerians who are already feeling the burden of the rise in food prices, transportation costs as well as an inflation rate of 22.79%.

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 House of Representatives said that a yet-to-be-constituted power committee will establish a common ground with the Nigerian Electricity Regulatory Commission (NERC) to ensure that current economic circumstances are taken into consideration and the proposed electricity tariff hike is brought to a halt.

Recall that on July 14, 2023, NERC had announced that 11 distribution companies (DisCos) had applied for a review of electricity tariffs

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A part of the NERC statement said: “Pursuant to Section 116 (1) and 2(a & b) of the Electricity Act 2023 and other extant rules, the eleven (11) successor electricity distribution companies (“DisCos”) have filed an application for rate review with the Nigerian Electricity Regulatory Commission (“NERC” or the “Commission”).

“The request for rate review is premised on the need to incorporate changes in macroeconomic parameters and other factors affecting the quality of service, operations and sustainability of the companies.”

Prior to this time, a key power sector stakeholder had told Nairametrics that there would be a change in the way electricity tariffs are reviewed in the country, unlike the old method where NERC was fully responsible for deciding rates.”

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