Against the backdrop of the proposed increase in tariff by electricity distribution companies in the country, the Lagos Chamber of Commerce and Industry has stressed the need for robust consultations with key stakeholders.
The President, LCCI, Alhaji Remi Bello, who spoke at the roundtable session of the chamber’s Power Sector Group on Friday, said the issue of metering, among others, needed to be addressed.
He said the theme of the roundtable: ‘Power metering issues and the way forward’, was germane at this critical stage of the economy, knowing that increased generation and distribution of power play a significant role in the development of the economy.
“The Nigerian economy can truly be an investors’ haven if the issues around the power sector are holistically addressed. Most significant is the issue of metering, which cannot be over-emphasised,” Bello said.
He noted that there were a lot of challenges being faced by the distribution companies, which had to do with inadequate facilities caused by lack of partnership, finance and outsourcing, adding, “Most critical is the challenge of frequent estimated billings and the non-distribution of prepaid meters.
“Another topical issue is the planned hike in electricity tariff, where distribution companies have proposed tariff increases ranging from five per cent to 83 per cent for residential customers.
“While we agree that a cost-reflective tariff be applied, there should be enough consultations with relevant stakeholders before final implementation. Some small businesses operate from residential locations and this should be factored in during deliberations.”