Are we getting ready for Hike in Electricity Tariff [Falling Naira]

At his 2014 Ministerial Platform in Abuja recently, minister of Power, Prof Chinedu Nebo, denied any plan by government to increase electricity tariff. Nebo’s denial became necessary due to speculations that yet another tariff hike may be introduced from December 1 without commensurate improvement in electricity supply.

The speculation is not totally erroneous as it follows logical deduction; one which was further strengthened by the vice chairman of the National Electricity Regulatory Commission (NERC), Mr Mohammed Lawal Bello, when he stated that the price of gas, inflation, foreign exchange rate and power generation capacity were some of the factors considered before proposing a tariff review. With NERC recently approving a $3.30 price for gas supply to power plants effective from December 1, and the Naira’s record slump against the dollar, the fear of possibly paying more for electricity is far from misplaced.

When the power sector reform was revisited under the present administration, it gave many Nigerians hope that finally the government might have gathered enough political will to address the embarrassing challenge of inadequate electricity supply.
http://leadership.ng/opinions/392689/tariff-hike-inadequate-power

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