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Electricity Tariff Hike Postponed Till Next Year

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The Proposed planned hike in electricity tariff has been postponed until the first quarter of next year Naija News can authoritatively report.

The Spokesperson of the Electricity Distribution Companies (DISCOs) Mr Sunday Oduntan who confirmed this to Naija News via a telephone conversation revealed that the leadership of the National Assembly has agreed to speak with President Muhammadu Buhari on the issue of cost-reflective tariffs.

Naija News understands that the leadership of the National Assembly successfully appealed to the  Electricity Distribution Companies (DISCOs) to defer the planned hike in electricity tariff till the first quarter of 2021.

Speaking further on the suspension of the planned Mr Oduntan revealed that every stakeholder in the Electricity company has agreed that there is a shortfall in the sector every day. He also revealed that the shortfalls keep increasing every day and considering the economic indices there is a need for tariff review.

Mr Oduntan also assured Nigerians of the commitment of the DISCOS to work with all the regulators and government to ensure that we fix the problem in the power sector.

However, Lawan while speaking after the meeting with the DISCOS said that Speaker of the House of Representatives, Femi Gbajabiamila and other principal officers of the two Chambers were emphatic that the timing of the planned hike is wrong, even though they had not many issues in introducing a cost-reflective tariff for the power sector to attract the much-needed investment.

Lawan also said that there is too much stress in the lives of Nigerians and indeed across the world because of the challenges imposed by COVID-19 pandemic.



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