15 July 2016, Sweetcrude, Lagos — The regulatory body of Nigeria’s power sector, Nigerian Electricity Regulatory Commission, NERC has hinted that there is no ongoing consideration for any 100 percent increase in electricity tariff by Nigerian Electricity Supply Industry, NESI.
“The Nigerian Electricity Supply Industry, NESI, is not contemplating any tariff increase as none of the industry operators is pressing for 100 per cent increase in electricity tariff,” NERC media head, Michael Faloseyi said in a statement.
He explained that the clarification sequels speculative media report that created the impression that NERC is considering applications from electricity distribution companies requesting for 100 per cent increase in electricity tariff.
“Contrary to this wild and speculative media report, NERC has not received any request for 100 per cent increase in tariff from any electricity industry operator as most of them are at this moment pre-occupied with the challenges of improvement in service delivery imposed on them by the existing tariff regime.
“The Commission as well as the industry is responsible enough to appreciate the state of the economy, level of power generation, how Nigerians are coping and would, therefore, not make any decision that could further aggravate the challenges faced by the power sector and the economy.
“Critical stakeholders in the economy are further advised not to be quick in joining the fray by reacting to baseless media speculation thereby lending credence to rumours and wild imaginations,” Faloseyi said.