Barely two months after the federal government forced on Nigerians increase in electricity tariff, the Nigerian Electricity Regulatory Commission, NERC, is said to have given the nod for the hike in another tariff, taking effect from January 1, 2021
The commission was said to have announced the tariff hike in the December 2020 minor review of the Multi-Year Tariff Order (MYTO) and Minimum Remittance Order.
NERC chairman, Sanusi Garba is said to have signed the MYTO giving effect to the hike in tariff, superseding the previous hike order.
According to the commission, the increase in tariff was necessitated by the 14.9 per cent inflation rate rise in November 2020 and foreign exchange of N379.4/$1 as of December 29, 2020.
The commission also cited available generation capacity, the United States inflation rate of 1.22 per cent and the Capital Expenditure of the power firms before the tariff was raised, as reasons for the increase in electricity tariff.
You may be interested
Benson Olugbuo Says 85% Of Nigerian Sεx Workers In Europe Are From Edo StateWebby - January 14, 2021
The Executive Director of CLEEN Foundation, Mr. Benson Olugbuo, has revealed that about 85 per cent of Nigerian sex workers…
‘Stingy Parents’ Loses Their Sick Son After They Both Refused To Pay His Hospital BillsWebby - January 14, 2021
A stingy Nigerian couple have reportedly left their son to die after they both refused to pay the hospital bills of…
Horror! Bandits Kidnap Zamfara APC Chairman’s Seven Children…Check Out How Much They Are DemandingWebby - January 14, 2021
The victims, Bashar, Abubakar, Haruna, Habibah, Sufyanu, Mubarak and Armiya, were kidnapped by bandits last Friday in Kadauri village. According…