The Federal Government of Nigeria has directed that the Nigerian Electricity Regulatory Commission (NERC) suspends the recent hike in electricity tariff.
On Thursday, Sale Mamman, minister of power, made this known through a statement to the press.
The minister disclosed that there was a committee working on the new electricity tariff regime and until the committee completes its deliberation the price hike should be suspended.
He said, “The public is aware that the Federal Government and the Labour Centers have been engaged in positive discussions about the electricity sector through a joint ad-hoc committee led by the Minister of State for Labour and Productivity and Co-Chaired by the Minister of State for Power. Great progress has been made in these deliberations which are set to be concluded at the end of January, 2021.”
“This will allow for the outcome of all resolutions from the Committee to be implemented together. The Administration is committed to creating a sustainable, growing, and rules-based electricity market for the benefit of all Nigerians,” he completed.
On Tuesday, the electricity tariff was increased from N2 to N4 and the increment was blamed on inflation and movement in foreign exchange rates.