Nigeria’s power distribution firms, DisCos, are reportedly intending to raise electricity tariffs across the country beginning January 1, 2024.
Under the condition of anonymity, a source at one of the DisCos confirmed the development to DAILY TRUST.
However, as of Sunday morning, the Nigerian energy Regulatory Commission, NERC, and Abuja Electricity Company have not to react to Platinumtimes inquiries about the anticipated energy pricing hike.
Meanwhile, Kunle Olubiyo, President of the Nigerian Consumer Protection Network, told DAILY POST that any planned energy tariff hike would be completely irresponsible on the part of the government.
According to him, Nigerians are still dealing with the consequences of Tinubu’s administration’s elimination of fuel subsidies, rising inflation, and other economic reforms.
“Increasing electricity at this time, coupled with the impact of fuel subsidy removal, inflation, and other hardships facing Nigerians, will be insensitive on the part of the government.
“It is outright irresponsible for the government to allow an electricity tariff hike,” he said.
Recall that in November 2023, President Bola Ahmed Tinubu stopped the implementation of electricity tariff, insisting on a power sector subsidy.
Speaking on Tinubu’s directive on electricity tariff hike, Minister of Power, Adebayo Adelabu, said Adelabu said, “The power sector is an industry that is very sensitive to any leader.
“You cannot jump overnight and implement the cost-reflective tariff. I can tell you that till today, the government still subsidises power”.
NERC’s quarterly reports indicated that electricity subsidies gulped N204.59 billion in the third quarter of 2023 and N135.23 billion in Q2, which is substantially higher than the N36.02 billion in Q1 2023.