FG Says Expect New Electricity Tariff In October

The Federal Government, via the Permanent Secretary, Ministry of Power, Mr Godknows Igali, announced that the proposed increase in electricity tariffs would commence from October.
This information was disclosed at the Powering Africa Nigeria conference in Abuja. Mr Igali further stated that Federal Government is committed to improving the fortunes of the power sector and also provide an enabling environment for investors in the sector.
According to him, government will continue to refine whatever needs to be refined in the power sector to enable investors in the sector do business profitably.
He disclosed that the power sector remains one of the best places to invest in, because the sector pays for itself and also because the challenges of gas supply had been significantly addressed.
Speaking on the proposed review in electricity tariff, Mr. Sam Amadi, Chairman, Nigerian Electricity Regulatory Commission, NERC, said from October, there would be a new tariff from the Distribution Companies, DISCOS, for retail consumers.
Finally, he mentioned that stakeholders in the sector were in the process of finalizing a new tariff structure, noting however, that the issue is how to improve customers’ confidence to be able to sell the tariff.