Nigerians Face More Hardship As FG Approves Another Electricity Tariff Hike
Nigerians may experience more hardship in the coming months as a result of the high cost of living following another increase in electricity tariff by the Nigerian Electricity Regulatory Commission
The Commission in a revised Multi-Year Tariff Order which was approved by its Chairman, Sanusi Garba, on December 30, 2020, raised the electricity tariff by 50 per cent.
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The implementation of the new tariff commenced on January 1 this year.
According to the Commission, factors such as capital expenditure of the power firms, high inflation rate, foreign exchange scarcity, and available generation capacity was responsible for the new tariff increase.
The revised Service Based Tariff also saw increase in the rates payable by all classes of electricity users unlike the one of November 2020, which exempted low power consumers.
Recall, the previous Tariff was only implemented in November 2020, following the suspension of the increased tariff in September.
