23 October 2015, The Nigerian Association for Energy Economics, NAEE, yesterday, condemned attempts by the electricity distribution companies, DISCOs and the Nigerian Electricity Regulatory Commission, NERC, to increase electricity tariffs, declaring that there is no valid and empirical basis for any sort of increase.
The Federal Government, through the NERC, had a few days ago given hints that Nigerians would be made to pay more for electricity, as it has concluded arrangements to undertake an upward review of the country’s electricity tariffs before the end of this month.
Speaking at a forum to mark World Energy Day in Abuja, President of NAEE, Professor Wunmi Iledare, disclosed that the electricity distribution companies should instead focus on metering all electricity consumers and investing in facilities that would help them capture and determine the actual number of consumers.
Iledare, who was represented by Professor Adeola Adenikinju, the immediate past President of NAEE, maintained that apart from determining the actual number of electricity consumers, such investment should be geared towards establishing the true cost and revenue derivable from electricity distributed.
Iledare further stated that a minimum of $30 billion, about N6 trillion “is required in the next few months to promote energy access across the length and breadth of Nigeria and also grow the country’s power generating and supply capacity to a minimum of 30,000 megawatts.”
He stated that promoting energy access would help the country save trillions of naira, as funds used in the purchase, maintenance of electricity generating sets by households and businesses would be saved.