Isola Moses | ConsumerConnect

While several millions of Nigerian consumers are yet battling with the socio-economic implications of the last increase in electricity tariffs, the Nigerian Electricity Regulatory Commission (NERC) has activated a fresh Multi Year Tariff Order (MYTO), increasing electricity bills by over 50 percent in the country.

Sanusi Garba, Chairman of NERC, in a revised MYTO and minimum remittance threshold payable by the electricity Distribution Companies (DisCos) empowers the 11 firms to increase tariff by 50 percent.

The regulatory Commission has cited prevailing economic realities, especially inflation and exchange rate.

It was learnt that in the new order titled, NERC/225/2020, the NERC based its decision by current inflationary rate of 14.9 percent and N379.4/$1 exchange rate.

The document dated December 30, 2020, thus overruled the previous order Order NERC/2028/2020.

Hitherto, Organised Labour unions and the Federal Government in recent months had been at loggerhead over the earlier increase in the pump price of petrol, otherwise known as the Premium Motor Spirit (PMS) as well as the increase in electricity tariffs.

Recall that following weeks of altercations, national outrage and outright rejection by consumers who cited poor power supply and the impacts of COVID-19, DisCos in October 2020, began the implementation of a service-based reflective tariff (SRT) structure after backing by an approval from President Muhammadu Buhari.

All classes of consumers, except those who enjoy a few hours of power supply would pay more for electricity until June 2021, according to report.