The Federal Government says that it will not go back on the 45 per cent increase in electricity tariff, adding that a reversal will cost over N575 billion. According to nta.ng, the Minister of Power, Works and Housing, Mr Babatunde Fashola, stated this in Abuja on Tuesday when he briefed the Senate Committees on Labour and Power during a public hearing on the new electricity tariff.

The Nigeria Electricity Regulatory Commission ( NERC) announced a 45 per cent increment in electricity tariff earlier in January. The Senate after considering a motion at plenary in January, directed that the tariff be reversed to enable the Senate to conclude hearing on the case.

However, the minister explained that the new tariff could not be reversed as it was necessary for the market to survive. He said that a number of indices, such as borrowing rate for investors, exchange rate , availability and cost of gas, among others also contributed to the hike.

Read more: http://www.sofreedomains.com/2016/06/reversal-of-electricity-tariff-will.html

And so?

..

But increasing it without giving us light won't cost you and your fellow thieves one kobo.