NERC warned of the adverse implications of electricity tariff increase

Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.

The Nigeria Employers Consultative Association (NECA) has expressed concern over the rise in electricity tariffs, stating that it negatively impacts businesses and the general public and should be reconsidered.

NECA's Director General, Adewale Smatt-Oyerinde, explained in an interview that the tariff hike has resulted in higher costs for goods and services, effectively negating the benefits of any new minimum wage increase for workers, as it provides relief with one hand and takes it away with the other.

NECA urges reversal of electricity tariff hike amid economic concerns
Source: UGC

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It would be recalled that the Nigerian Electricity Regulatory Commission (NERC) has authorized a new electricity tariff for the 11 Electricity Distribution Companies (DisCos) in the country, effective from April.

The previous review occurred in 2015. Details of the new tariff structure for various DisCos and customer categories were posted on the NERC website.

The directive was signed by NERC chairman, Prof. James Momoh, and Secretary, Mr. Dafe Akpedeye.

Oyerinde also urged the Federal Government to tackle the issues of food inflation and transportation and to explore ways to provide relief for the populace.

Source: Legit.ng