The federal government has repeatedly stated its ambition to increase power generation in the national grid from approximately 4,500MW to an unprecedented 6,000MW by the end of 2024.
The Organised Private Sector in Nigeria comprising the Manufacturers Association of Nigeria (MAN), Nigerian NACCIMA, NECA, NASSI and NASME has stated that over 65% of businesses in Nigeria may shutdown due to the over 200% hike in electricity tariff by the federal government.
In reviewing the new electricity tariff for Band A consumers, the Nigerian Electricity Regulatory Commission (NERC) made use of important indices in determining the electricity tariff. These indices or assumption range from Nigeria and the United States inflation rate, exchange rate, generation capacity, gas to power cost etc.
