The Federal Minister of Power, Sale Mamman on Friday said there is no plan to significantly raise electricity tariffs across the country.
Rather, the Minister said in a statement shared on his official Twitter handle, Nigerians should expect an increase in the power sector’s efficiency.
The Minister’s comments come after the Nigerian Electricity Regulatory Commission
said it was ready to conclude the “Extraordinary Tariff Review process” for the country’s 11 electricity distribution companies.
In a notice posted to its website on Monday, the Commission expressed its readiness to commence the processes for a minor review of the tariff in July, based on “changes in inflation, foreign exchange, gas prices, and available generation capacity” among other factors.
However, Mr. Mamman said NERC’s action is in accordance with Section 76 of the Electric Power Sector Reform Act of 2005.
“The tariff for customers on service bands D & E (customers being served less than an average of 12hrs of supply per day over a period of one month) remains subsidized in line with the policy direction of the Federal Government,” he said.
“Section 76 of the Electric Power Sector Reform Act of 2005 provides clear guidelines for the periodic review of tariff (based on market data and submissions from licensees).