There’s no approval yet – FG gives update on electricity tariff increment

The Federal Government has responded to claims of a purported electricity tariff increment on July 1.

Responding to an enquiry from Newsmen on Monday concerning electricity tariff increments by Electricity Distribution Companies, DisCos, the Nigerian Electricity Regulatory Commission (NERC) said there is yet to be an approval.

The Assistant General Manager, Public Affairs of NERC, Mr Michael Faloseyi, disclosed this.

He stressed that the commission has yet to approve electricity tariff increments.

“I can confirm that the Commission has not approved any tariff increase”, he told Newsmen.

NERC’s response comes against speculations of a 40 per cent electricity tariff increase.

In the last three years, several upward electricity tariff adjustments have been implemented under the NERC’s Multi-Year Tariff Order, MYTO, in line with current economic realities, in this case, the inflation rate and the exchange rate of Naira at the foreign exchange window.