NACCIMA advocates a transparent, gradual approach in implementation as NERC increases tariff

Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has decried the recent increase of electricity tariff as announced by the Nigerian Electricity Regulatory Commission.

In a statement issued on Wednesday, the National President, NACCIMA, Dele Oye said that the organised private sector was not consulted as recognised key stakeholders, adding that the tariff increase will have a systemic impact on energy intensive industries.

The vice chairman of the Commission, Musiliu Oseni, who addressed a press briefing earlier had announced the new tariff under which customers in Band A, who are offered at least 20 hours electricity per day are expected to pay N225/kWh.

According to him, “the Association recognises the challenges faced by the electricity industry and need for cost reflective tariffs. However, we believe a planned restructuring of the current electricity distribution structure will achieve optimal results.

“We have received with shock the recent increase in electricity tariffs which amounts to a more than 300 percent increase.

“We will advocate for a transparent and gradual approach in policy implementation, emphasising the need for broad stakeholder engagement to mitigate adverse effects on business competitiveness and consumer prices.”