Minister of Power announces new electricity tariffs from July

By AdvocateNews on 17/06/2020

Share on facebook Yahoo mail icon Gmail icon

Views: 1,066

Minister of Power, Sale Mamman
Minister of Power, Sale Mamman

The Minister of Power, Sale Mamman, has said that the proposed electricity tariff increase by the Federal government will kick off in July.

In January, the Nigerian Electricity Regulatory Commission (NERC) had announced an upward review of electricity tariff across the country from April 1. It later suspended the proposed tariff increase in March due to the COVID-19 pandemic.

However, while speaking at the investigative public hearing on the power sector recovery plan and the impact on COVID-19 pandemic at the Senate on Tuesday, June 16, the Minister said the subsidy incurred in order to maintain the current tariff level is unsustainable.

“The impact of the COVID-19 pandemic has also affected our laid-out plan for the repositioning of the electricity market towards financial sustainability under the power sector recovery programme (PSRP).

"Initially, the regulator, following the completion of public consultation on tariff review, planned on conducting a tariff review in April 2020. However, due to COVID-19 and customer apathy, the proposed tariff review was delayed by three months.

"The impact of this means the subsidy being incurred in maintaining the current tariff level had to be maintained until July 2020 when the proposed tariff review will be implemented. The current situation in the Nigerian power sector is that a lot of capital investment is being made, most of which is dependent on donor funding, loans and budgetary allocation. 

"For projects that we have already secured their funding, we do not expect any adverse effect.” Sale said

Posted 17/06/2020 08:45:38 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

You may also like...
Electoral Act: National Assembly plots to override Buhari...

Bishop, Minister fight over Ekwueme’s missing £200,000 medical...

Mbaka confirms ‘detention’ by Catholic Church leadership, says...

Eight months after, Senate set to clear Lauretta...

Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife...

NASS invasion: Buhari’s ominous descent into dictatorship

Kogi Govt. seeks FG’s help as flood takes...

Over 5000 card readers destroyed as fire guts...

Shi’ite protest: Channels TV reporter, Precious Owolabi, buried...

Presidency explains alleged attack on Buhari in Kebbi...

Nigeria reports 10 new coronavirus cases in Lagos,...

Boko Haram leader, Shekau, releases new video, justifies...

 

Latest News Biafra: Business in Southeast crumbling, IPOB must end sit-at-home now – Ohanaeze Political opponents abducted Anambra Labour Party’s Gov candidate, party alleges Aviation stakeholders hail Gov. Ugwuanyi’s commitment to air safety Afenifere to Buhari: Ignore Gumi, declare bandits as terrorists UN issues ‘Urgent Appeals’ to Nigeria, Kenya, seeking explanation for Nnamdi Kanu’s illegal abduction, detention, others 22 governors apply as FG disburses model ranch funds next week Benue: Ortom assents to law to empower volunteer guards bear weapons Former Enugu SSG, Dan Agbo, is dead Zamfara: Residents flee as bandits attack ten communities in one week Accounts blocked for Cryptocurrency trading unfrozen by Court Anyim regains freedom after spending two nights in EFCC custody Withdraw military from South-East, Asari Dokubo's Biafra de facto government tells FG

 

Most Read Sickle cell support group seeks government intervention (193,997 views) Ebonyi bans embalming of corpses in homes (193,997 views) Ex-Heads of State will protect Jonathan from persecution —Kukah (193,997 views) FG sends new directive to banks, schools as Buhari extends lockdown by four weeks (193,997 views) I’ve no Coronavirus, govt wants to kill me – Anambra Index case (193,996 views) Fleeing ex-DG Imo Broadcasting Corporation who stabbed wife to death arrested (193,996 views) Ugwuanyi commends FG’s siting of ICT University in Enugu (193,995 views) Full Text of Governor Ifeanyi Ugwuanyi’s 2016 Budget Speech (193,883 views) HUSHPUPPI: CRIMINALS HAVE NO TRIBE. THEY SHAME ALL OF US... (189,322 views) ASUU strike: Senate intervention ends in deadlock (188,629 views) All you need to know about Peter Obi, PDP VP Candidate (150,197 views) DEMOCRACY DAY: President Muhammadu Buhari’s full speech (148,513 views)

 

 

SECTIONS FAITH (158) EDITORIAL (18) NEWS (7,021) POLITICS (495) SOCIETY (132) SPORTS (53) BUSINESS (367) HEALTH (58) EDUCATION (50) ENTERTAINMENT (51) INTERNATIONAL (178) TECHNOLOGY (6) COLUMNISTS (57) LETTERS (4) OPINION (40)

 

 


There are no video entries posted yet.