Nigerian Government Cuts Electricity Tariff By 50% - Politics (4) - Nairaland
Nairaland Forum / Nairaland / General / Politics / Nigerian Government Cuts Electricity Tariff By 50% (34657 Views)
FG Opposes Electricity Tariff Reversal, Backs NERC / Federal High Court Voids Hike In Electricity Tariff, Fines NERC/DISCOS / BREAKING: Nigerian Government Cuts Electricity Tariff By 50% (2) (3) (4)
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| Re: Nigerian Government Cuts Electricity Tariff By 50% by pekeyim: 4:06pm On Mar 17, 2015 |
coolluk: OK! |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by wasco24: 4:07pm On Mar 17, 2015 |
this govt is Vry funny, reducing electricity price by half to scam me of my vote ba? Sorry my guy u miss am 3 Likes |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by omenka(m): 4:09pm On Mar 17, 2015 |
Riclord001:Na me dem dey annoy pass. These guys take Nigerians for fools.  3 Likes 1 Share |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by chamboy(m): 4:12pm On Mar 17, 2015 |
Tandriods statements when High Power cost protest was on SeverusSnape: 2 Likes |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Change2015(m): 4:13pm On Mar 17, 2015 |
http://thewillnigeria.com/news/fg-reduces-electricity-tarrif-by-over-50-with-days-to-presidential-poll/ FG Reduces Electricity Tariff By Over 50% With Days To Presidential Poll Posted By: THEWILL_Posted date: March 17, 2015In: Headline, NewsNo Comments BEVERLY HILLS, March 17, (THEWILL) – The federal government of Nigeria has reduced electricity tariff by over 50% with just days to the presidential elections, which is expected to be keenly contested between the incumbent President Goodluck Jonathan and main challenger, General Muhammadu Buhari of the All Progressives Congress (APC). Announcing the new tariff Tuesday, the Chairman/CEO of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, said the approval followed complaints against the increase in tariff of different consumer classes by industrial and commercial consumers under the Manufacturers Association of Nigeria (MAN). Electricity tariff shot through the roof because power distribution companies were passing on collection losses to consumers, NERC said after a review. Amadi added that NERC invited the CEOs of power distribution companies for talks following the complaints. “The Commission also invited the Chief executive Officers of the distribution companies to the hearing to respond to the case of the consumer groups. Furthermore, the Commission reviewed the technical and financial assumption of MYTO 2.1. The review shows that the major underlying cause of the skyrocketing increase in the tariff is the huge Aggregate Technical, Commercial and Collection (ATC&C) losses, which are passed through to consumers. In some DISCOs ATC&C losses increased tariff by as much as 80-103%. “… It is the responsibility of the DISCOs to collect their revenue from their customers. Failure to do so should not be a penalty to customers who pay their bills. It is clear that removing the collection losses will lead to lower tariffs for consumers. The removal of collection losses from customer tariff has reduced tariff by more than 50 percent in some places. Please note that the reduction does not affect the CBN facility and its repayment. “Therefore, On Monday, March 9, 2015 the Nigerian Electricity Regulatory Commission (NERC) issued a new order to the effect that henceforth collection loss, which is defined as the ‘amount billed but not collected’, will not be automatically passed on to consumers of electricity. Consequently, the collection loss for all DISCOs is set at zero. It is now the responsibility of DISCOs to convince the regulator of any exceptional circumstances for such loss to be passed to the consumers,” Amadi said in a statement. The NERC CEO further said, “This new order now amends the MYTO 2.1 and has reduced the tariff to be paid by all class of consumers. In the review MYTO 2.1 the Commission followed due process and the regulatory principles. The EPSR commits the Commission to ensuring full recovery of prudent costs for efficient operators. The Commission is obligated to make sure that only prudent and efficient costs are passed to consumers. The principle is to ensure that the distribution company operates efficiently and provide quality and affordable services to consumers. “NERC remains committed to the principle of cost- reflective pricing and to the development of an efficient and financially viable electricity market. These are important to support the investment that is needed to ensure the electricity supply industry meets the needs of the Nigerian economy. The decision to review tariff is completely compatible with the terms of the privatization and has been reviewed with the Bureau for Public Enterprises (BPE). NERC and BPE are working together to advocate for series of fiscal policies that will foster easier access to investible capital to further increase capacity and enhance reliability in the sector.” |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Nobody: 4:14pm On Mar 17, 2015 |
MichaelSokoto:I hope you will still be my friend after the election? 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Noloss(f): 4:14pm On Mar 17, 2015 |
;DLol Eluwilussit: |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Nobody: 4:15pm On Mar 17, 2015 |
Nigerians clamouring for change with the same old thieves. Isn't this exactly what PDP did in May 1999? Bringing together old thieves under a party umbrella telling us how they are going to make Nigeria a better nation? Now fast forward many years later they have added more cast to the crew and moved under the umbrella of another party. Former casts from the old party have joined in and the slogan "Change" have been picked up. Which change? Buhari, Obasanjo, Tinubu... You call that change? Thats like going back in time. Why will OBJ a former PDP board of trustee chairman be against PDP right now? Why will he openly be criticizing the government right now? Was his administration any good? I sorry for Nigeria. 4 Likes 2 Shares |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Firefire(m): 4:15pm On Mar 17, 2015 |
MichaelSokoto: God pass you! 3 Likes 1 Share
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| Re: Nigerian Government Cuts Electricity Tariff By 50% by Change2015(m): 4:17pm On Mar 17, 2015 |
Basic electricity tariff is not going down, only now consumers do not have to shoulder the burden of paying for consumers who don't pay their electricity bills. Service charge remains, whether you see light or not. I'm totally unimpressed. #change #GMB #APC |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by seankay(m): 4:18pm On Mar 17, 2015 |
tp10:Lol even fuel is still being sold at 100 naira per litre |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by iiiyyyk(m): 4:18pm On Mar 17, 2015 |
Gej is realy geting it wrong, I dont know the kind of advisers he has. This 6 weeks shld have been used for two things, repel boko h and explain his policies and achievments and vision to the people. Not making hash decisions that shows desperation. Tha unfurtunate thing is that, he has no good policies, achievement or vision. That reasin why only adults are allowed to vote is because, u cant easily decieve them. How do u expect us to vote for u base on what u have achieved within this six weeks. For six years u called nigerians fools and now u are pretending to be serious. Can u change the sinking econmy u have created in the last six years. The answer is no. U sold oil 110USD for almost 6yrs, u didnt serve any money, yet reduced our foreign reserve to 10yrs low. Now look at its effect on the value of naira. I think is too late, Mr Gej. 6 Likes |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by MichaelSokoto(m): 4:18pm On Mar 17, 2015 |
barcanista:"If" and only "IF"...  |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Noloss(f): 4:18pm On Mar 17, 2015 |
ivex:If it true it'll affect prepaid too. Just pray it's true |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by phemmyutd(m): 4:19pm On Mar 17, 2015 |
nortcentrallord: The True you inside knows you are fooling yourself 3 Likes |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Jorussia(m): 4:21pm On Mar 17, 2015 |
I pity this country, is this not the same Amadi that has been saying all this years that it is only a. continuous upward review of electricity tarriff that can guarantee investment in power.I recall,he even said some time ago that our tariff is on of the cheapest in the world. Petrol was reduced by #10,and for the past two weeks virtually all filling stations in Nigeria is selling for #100 and above,Nigerians should simply do the needful,by punishing GEJ with their PVC come march 28. 6 Likes |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by nortcentrallord(m): 4:21pm On Mar 17, 2015 |
phemmyutd: Stop hating yourself for it might lead to depression when the election results will be announced. |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Nobody: 4:21pm On Mar 17, 2015 |
MichaelSokoto:No "IFs" because Buhari will be rejected. Jonathan will be re-elected. |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Misogynist2014(m): 4:27pm On Mar 17, 2015 |
Be not decieved fellow Nigerians, 2nd term of this man will be terrible! 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by udemzyudex(m): 4:28pm On Mar 17, 2015 |
otokx:what is your school management doing? |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by leanalyst: 4:30pm On Mar 17, 2015 |
Let's just appreciate a good thing and stop bringing in politics. These decisions can't just be taken overnight, without thorough deliberations. The truth is at least the government listens. |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by obongtunji: 4:30pm On Mar 17, 2015 |
SaiBuharii: Your head dey there jare. + If this thing can be done since why is FG just doing it now? 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Urine: 4:36pm On Mar 17, 2015 |
Amusaopeyemi: So your playfulness is just a cloak, you have asked a very intelligent question and I'm really impressed. To answer your question, Telecoms companies in Nigeria are private, but we have the NCC there to ensure everything is fair and also put them in check. The NERC is doing something similar to that. |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by bakila: 4:40pm On Mar 17, 2015 |
Eluwilussit:Hmmmm, I will contest against General Buhari the incumbent President in 2019. By then the argument would be he has served Nigeria well, while you and my campaign team will say what you canvassed above. I know what it takes to contest an election having tried one, I know also that some unsolicited promise to support financially are not redeemed. You my friend am sure would not be like some of them. 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by ElFenomeno1: 4:42pm On Mar 17, 2015 |
Amusaopeyemi: Privatised yes, but they are still subject to regulation and controls and that is what the NERC are doing! The reduction is actioned by the power companies but mandated and directed by the NERC after talks between top guys on both sides ( NERC and the power companies CEO's / Directors ) |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by UncleJudax(m): 4:48pm On Mar 17, 2015 |
lordsharks: |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by Wahala90: 4:49pm On Mar 17, 2015 |
Ahahaha!
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| Re: Nigerian Government Cuts Electricity Tariff By 50% by Nobody: 4:52pm On Mar 17, 2015 |
Election thing. Too late, GEJ is a deceptive character. Nigerians watch your back. 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by arsetalks(m): 4:53pm On Mar 17, 2015 |
leanalyst:How come it is few days to election that everything starts happening? Be honest with yourself. 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by godunia(m): 4:54pm On Mar 17, 2015 |
Where is the light? 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by link2jude(m): 4:55pm On Mar 17, 2015 |
50% cut my foot... meanwhile, Ngozi is seriously planning to increase taxes nationwide in order to makeup for the country's ailing economy. Instead of diversifying our economy, they are on the drawing board finding all possible means to steal from the $53 bench mark oil price. Nigerians shine your eyes come March 28. 1 Like |
| Re: Nigerian Government Cuts Electricity Tariff By 50% by olumuyo: 4:56pm On Mar 17, 2015 |
Please rejoice not! What is the economic justification for this reduction in tariff? improvement in power generation? reduction in the cost of transmission and distribution? Hell no! Although the reduction is a welcome development and I thank both the government and the opposition who may have motivated the ruling government to consider the reduction "in the interest of Nigerians" sake of the forth coming election. I can confidently tell you that this is not sustainable both under the new government (GEJ of GMB). Things will go back to its status quo after MAY 29. What attracted the discos into investing in the power sector is the existing tariff. Don't you know that the differential in the loss of revenue owing to this reduction will be secretly subsidized by the government to the discos . The government ought to have done some strategic overhauling in all power sector before considering the reduction in tariff. I rest my case. 1 Like |
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