Despite resistance from Nigerians,
the Federal Government, yesterday, insisted that the proposed increase in
electricity tariffs would commence from October.
Speaking at the Powering Africa
Nigeria conference in Abuja, Mr. Godknows Igali, Permanent Secretary, Ministry
of Power, 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.
He said 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.