Tuesday, Oct 20th 2020 8:47 AM

Market Digest Nigeria


Electricity consumers,PDP rejects new tarrif hike


The new electricity tariff hike for the electricity companies across Nigeria was kicked against by consumers along side the People’s Democratic Party (PDP).


Kola Ologbondiyan, PDP National Publicity Secretary

Kola Ologbondiyan PDP National Publicity Secretary said in a statement that the increase is draconian and against the interest of Nigerians. The party however urged the Federal Government to annul the increase which it described as “obnoxious and provocative”.  PDP stated that the government wants to increase electricity tariff, at a time Nigerians are still struggling with the increase in Value Added Tax( VAT) from 5 percent to 7.5 percent by the All Progressives Congress (APC) led administration.

President of Consumer  Rights Advancement Organisation, Mr. Adeolu Ogunbanjo, whole reacting to this hike said the increase was a crime against consumers. He warned that Nigeria  Electricity Regulatory (NERC) should be ready for a showdown with consumers because the level of service by the Discos was appalling and does not in anyway commensurate with service. He said a lot of consumers were still on estimation billing and without prepaid meters, saying not until all consumers were metered, any hike by NERC would be resisted. He lamented that the hike would further impoverish consumers as their purchasing power would be further weakened considering the fragile state of the economy.

However, Nigerian Electricity Regulatory Commission(NERC) says no tariff increase has been approved by the Commission yet.

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