Increase in electricity tariff ill-timed – MAN

The Manufacturers Association of Nigeria (MAN), Edo/Delta branch, has described the increase in electricity tariff by the Nigerian Electricity Regulatory Commission (NERC) as ‘ill-timed’ due to the economic recession.

Chairman of the branch, Mr Okwara Udensi told journalists in Benin on Wednesday that many businesses were still facing untold hardship caused by the COVID-19 pandemic and EndSARS violence.

He said the manufacturing sector was currently being faced with high cost of production noting that any further increase in electricity tariff would worsen production and purchasing power of consumers.

“The economy is in a bad shape, we are in recession, so an increase in electricity tariff will translate to an increase in the cost of goods and services.

“Besides, the purchasing power of the people is low and people will not buy goods produced at very high cost and this will lead to most SMEs becoming moribund,” he said.