Despite resistance from Nigerians, the Federal Government, yesterday, insisted that the proposed increase in electricity tariffs would commence from October.
Speaking at the Powering Africa Nigeria conference in Abuja, Mr. Godknows Igali, Permanent Secretary, Ministry of Power, further stated that Federal Government is committed to improving the fortunes of the power sector and also provide an enabling environment for investors in the sector.
According to him, government will continue to refine whatever needs to be refined in the power sector to enable investors in the sector do business profitably.
He disclosed that the power sector remains one of the best places to invest in, because the sector pays for itself and also because the challenges of gas supply had been significantly addressed.
Speaking on the proposed review in electricity tariff, Mr. Sam Amadi, Chairman, Nigerian Electricity Regulatory Commission, NERC, said from October, there would be a new tariff from the Distribution Companies, DISCOS, for retail consumers.
He said stakeholders in the sector were in the process of finalizing a new tariff structure, noting, however, that the issue is how to improve customers’ confidence to be able to sell the tariff.