Chairman, Nigeria Electricity Regulatory Commission (NERC), James Momoh has confirmed that the suspension of the new electricity tariff has been extended by one week.
The chairman made this known when the ad hoc Technical Committee on Electricity Tariff submitted its interim report at a bilateral meeting between Federal Government and the Organised Labour.
Momoh who confirmed the new development on Monday said the week extension was to aid committee review and work out modalities for the implementation of the agreement reached on the electricity tariff’s structure.
Chris Ngige, Minister of Labour and Employment, said that adoption of the work plan to effect the resolutions has been reached.
“This is to leverage on the VAT from the NESI. The increases experienced by customers due to the transition to the Service Based Tariff will be reduced. Band A – 10 percent reduction; Band B – 10.5 percent reduction; and Band C – 31 percent reduction.”
The resolutions adopted would be implemented by all stakeholders on Sunday, October 18.
He made it known that the Nigerian Electricity Supply Industry (NESI) VAT proceeds was used by the government to provide relief in electricity tariff.
Agreements were also reached on National Mass Metering Programme (NMMP)
Ngige stated that the government was committed to providing six million meters.
For the distribution of the first one million meters, the Ministry of Power will liaise with Central Bank of Nigeria (CBN), Nigerian Electricity Regulatory Commission (NERC) and Nigerian Electricity Management Services Agency (NEMSA).
Work is meant to commence October 12 to accelerate the roll out of meters with a target of December 2020.
