By Bashir Olanrewaju
Nigeria suspended a hike in electricity tariffs that would’ve seen prices double for most consumers until the end of the month.
The increase authorized by the Nigerian Electricity Regulatory Commission was meant to apply with effect from the first day of the year on
consumers that receive at least 12 hours of power supply daily for at least one month. Prices were to remain subsidized for those who get less.
“I have directed NERC to forestall the implementation of the duly performed minor review (which adjusted tariffs between N2 per kWh and N4 per kWh) until the conclusion of the Joint Ad Hoc Committee’s work at the end of January 2021,” Power Minister Saleh Mamman said on Thursday on Twitter. It was in response to widespread public criticism of the higher prices and strike threats by labour unions.
Rates were increased for all bands of consumers to reflect impact of inflation and naira’s depreciation against international currencies.
The payment bands include residential, commercial and industrial users as well as other special users and street lights.