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Home Business News

FG may increase electricity tariffs to improve power supply 

Fakoyejo Olalekan by Fakoyejo Olalekan
December 21, 2019
in Business News, Politics
The Nigerian Electricity Regulatory Commission (NERC), National electricity grid collapses again, as NUEE suspends strike action , FG to increase electricity tariffs in order to improve power supply, Power: Liquidity crisis-same old story in 2020?, GenCos urges NBET to pay up N1 trillion debt, Electricity Tariff: FG, electricity stakeholders to work on equitable rate , Power: NERC applies "brakes" on hike in tariffs, NERC to sanction 7 DisCos over uncapped estimated billing
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Nigerians will start paying more on electricity supply as the Federal Government plans  to boost power supply.

The Minister of Power, Saleh Mamman, said the hike was inevitable due to the rising cost of electricity generation in Nigeria.

According to Mamma, improvement in electricity supply necessitated the need to increase the electricity tariffs. Already, there is ongoing tariff reform in the power sector for the eleven power Distribution Companies (DisCos), The Nation reported. The sector has also initiated the ‘willing buyers and willing sellers’ policy to cater for stranded power not supplied due to failed distribution chain.

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The power sector in Nigeria was privatised in 2013 and the supply of the electricity was divided into several categories: six generation companies; 12 distribution companies covering all 36 Nigerian states, and a national power transmission company. This was done to improve electricity in the country; however, the situation has remained the same.

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Electricity plant

Nigeria’s electricity problem: Mamma said electricity supply in the country was being affected by cost-ineffective tariff. He stated that it was a drawback on the operation of the energy distributors. So, if electricity supply was to improve, there’s need for procurement of needed equipment that would reflect on the electricity tariff.

[READ MORE: FG threatens to disconnect Togo, others from electricity over $16 million debt]

Mamma, who disclosed that efforts were ongoing to improve power supply to the Northern part of the country, also said there’s need to ensure customers pay tariffs relative to their consumption of electricity, as specified by the Nigerian Electricity Regulatory Commission (NERC). The power generating (Gencos) firms are owed N1.3 trillion by the power distribution companies (DisCos) and other agencies.

“As part of efforts to improve supply of power to the Northern part of the country, a new 330 KVA line is about to be installed by the government. This, among other projects, would improve supply of electricity in Nigeria. With the improvement in power supply, the increase in tariffs in the country was inevitable, because the cost of generating electricity must be met by the operators.”


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Tags: Electricity tariffsFGincreaseOn the MoneyPowerSaleh Mammasupply
Fakoyejo Olalekan

Fakoyejo Olalekan

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: fakoyejo.olalekan@nairametrics.com.

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Comments 1

  1. Anonymous says:
    December 21, 2019 at 8:39 pm

    Let the government not increase the tariff. The neighbouring countr

    Reply

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