Nigeria has suspended a plan to increase electricity tariffs slated for July 1.
The suspension of the plan, follows the meeting between lawmakers, and the leadership of the Nigerian Electricity Regulatory Commission (NERC) and electricity distribution companies, said the senate president, Ahmed Lawan, on Monday via a tweet.
According to Lawan,the suspension is to enable Nigerians cope with the global hardship caused by the Covid-19 pandemic.
However ever,the planned increase which was earlier billed to take off from July 1st, 2020 has now been deferred to the first quarter of 2021.
He said,“as a result of the intervention of the National Assembly leadership, while we meet with President Muhammadu Buhari on the issue,”
“We were emphatic at the meeting that the timing of the planned hike was wrong even though we had not much issue with the need to introduce a cost reflective tariffs for the power sector to attract the much needed investment,” Lawan said.
“There is too much stress in the lives of Nigerians today and indeed across the world because of the challenges imposed by COVID-19 pandemic and even before then, we had issues that would always make it tough for our people to effectively pay the tariffs.
“So between now and the first quarter of next year, our task will be to work together with the Discos to ensure that we put those blocks in place to support the eventual increase in tariffs,” he said.
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