Nigerian Electricity Regulatory Commission [NERC], has clearly stated that no tariff increase has been approved for now by the commission.
The General Manager of NERC, Public Affairs, Usman Arabi, made this known on Friday in a statement released in Abuja noted that it was still consulting with stakeholders.
Usman also said that the commission wished to notify the public that no tariff increase had been approved by the commission contrary to the impression in some quarters.
“However, the commission in the discharge of its statutory responsibilities enshrined under the Electric Power Sector Reform (EPSR) Act, shall continue to undertake periodic reviews of electricity tariffs in accordance with prevailing tariff methodology.
“In all instances of such reviews and rule-making, the commission shall widely consult stakeholders and final decision shall be taken with due regard of all contributions,” he added.
Usman said that the commission wished to provide guidance that the minor review implemented by the commission was a retrospective adjustment of the tariff regime released in 2015.
He said that this was to account for changes in macroeconomic indices for 2016, 2017 and 2018, “thus providing certainty about revenue shortfall that may have arisen due to the differential between tariffs approved by the regulator and actual end-user tariffs,” he stated.