Nigerian Lawmakers direct NERC to halt hike in electricity tariffs

Must Read

Lagos State Government bans Okadas, Tricyles, including Opay, Gokada

The Lagos State Government has banned motorcycle taxis, popularly known as Okada and auto-rickshaws, popularly known as Keke Marwa from operating in some...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

LSPWC begins rehabilitation work on LASU-Iba road intersection with Lagos Badagry Expressway (Photos)

Lagos State Public Works Corporation (LSPWC) begins rehabilitation work on LASU-Iba road intersection with Lagos Badagry Expressway. This rehabilitation work...
- Advertisement -
- Advertisement -

The House of Representatives Committee on Power has asked the National Electricity Regulatory Commission (NERC) to suspend the recently announced increase in electricity tariff.

NERC had directed the electricity distribution companies (DisCos) to enforce an upward review of the tariff starting from April 1.

In a meeting in Abuja on Tuesday, Aliyu Magaji, the committee chairman, asked NERC to issue a directive suspending the upward review pending proper consultations on the matter.

Magaji also directed Ahmed Abdul, acting permanent secretary, ministry of power, to send correspondence to relevant agencies regarding the directive.

“There are so many unresolved questions. We have to do it logically to ensure that at least… all of us know the feedback from Nigerians,” he said.

Read:  Berger Paints Nigeria announces the appointment of new Managing Director and Chief Operating Officer

“On behalf of this committee, I will liaise with the senate committee; put this on hold until proper consultations are achieved. The committee is directing you to halt this process until the honourable speaker finishes his consultation.”

The committee chairman added that the Nigerian Bulk Electricity Trading Company Limited (NBET) remains under the ministry of power contrary to a presidential directive which moved it to the ministry of finance.

NBET, which was created through the Electric Power Sector Reform Act, has been operating under the ministry of power until recently when President Muhammadu Buhari moved it to the finance ministry.

Read:  Ikeja Electric rolls out prepaid meters for Ikorodu customers under MAP Scheme

Addressing the committee, Abdul said the ministry of power was informed of the presidential directive, and that NBET is now being supervised by the finance ministry.

Read:  Transitioning to a Cost Reflective regime – Positive for the economy?

Magaji, however, opposed the move which he said is illegal.

“We are talking of the law; I’m sure somebody must have misled somebody somewhere. This law (putting NBET under the ministry of power) is yet to be repealed or reviewed,” he said.

“So, NBET still remains in the ministry of power as far as this parliament is concerned, unless we change the law.”

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Reckitt Benckiser donates £5.5 million to combat Coronavirus

Reckitt Benckiser (RB) and Mead Johnson donate RMB 50 million (£5.5 million) in cash & antibacterial products to combat...

A Guide to Getting Started With Forex Trading

Forex (short for 'foreign exchange') trading is becoming very popular, as it allows traders to buy and sell various currencies online. If you've gone...

What’s Fuelling The Rapid Hotel Growth In West Africa

Today, Africa is seen as one of the most promising regions for hotel developers. Aside from small chains and independents, four global hotel groups...

Ever wondered how LaLiga Transfers work behind the scenes?

Gone are the days of archaic, long-winded processes. Transfers in and out of LaLiga, such as those of Reinier or Raúl De Tomás this...

More Articles Like This