Senior Officials of the Nigerian Electricity Regulatory Commission (NERC) comprising the Chairman James Momoh and its seven commissioners are expected to meet with President Muhammadu Buhari by 4 pm this afternoon on the slated service reflective tariff increase expected to come into effect on the first of July 2020.
Sam Ekeh, a media officer at the corporate affairs division of the NERC, told BusinessDay that the meeting is to get a final directive from the president on effecting the new tariff which ought to take off officially by first of July.
Recall that the leadership of the National Assembly on Monday waded into the controversy on the planned hike in electricity tariff from July I, 2020 and succeeded in convincing the distribution companies to defer the plan till first quarter of 2021.
But the meeting of the NERC officials with the President is to ensure there is a service reflective tariff to be paid by Nigerians, a situation that would gradually address liquidity concerns in the sector while also attracting investors into the weak performing power sector.
Maman Sale, the Minister of Power, had severally explained why it is important that the sector drives efficiently through effective payment of the cost-reflective tariff, stating that the government was encouraging reforms in the sector to enable it run efficiently and have a credible electricity market in the country.
Source: Business Day