While Nigerians have yet to come to terms with the latest increase in electricity tariffs, a new Multi Year Tariff Order
(MYTO) has been introduced by the Nigerian Electricity Regulatory Commission (NERC), increasing electricity bills by over 50 percent across the country.
Sanusi Garba, revised MYTO and minimum remittance threshold payable by the Distribution Companies and signed by the Chairman of the
NERC, empowers the 11 Discos to lift tariffs by 50%, citing prevailing economic realities, in particular inflation and exchange rates.
The document dated December 30, 2020
overruled the previous order Order NERC/2028/2020.
Following the rise in the pump price of premium engine spirit and the increase in energy tariffs, trade unions and the Federal Government were at loggerhead.
After a series of outrage and outright rejection by customers who cited weak power supply and the effects of
Covid-19, DisCos began introducing a service-based reflective tariff (SRT) system in October last year, after endorsing President Muhammadu Buhari’s approval.
NERC based its decision on current inflation of 14.9 per cent iN379.4/$1 exchange rate in the new order, tagged NERC/225/2020.
Up until June of this year, all groups of customers, except those
who enjoy a few hours of power supply, will pay more for electricity.