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How Buhari Hiked Electricity Tariff Three Times In 5 Years - Politics - Nairaland

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How Buhari Hiked Electricity Tariff Three Times In 5 Years by ijustdey: 8:02pm On Jan 05
The Nigerian Electricity Regulatory Commission (NERC) has confirmed that the electricity tariff has increased by two naira to four naira since January 1, 2021 to reflect increase in inflation and foreign exchange rates.

The new increase will be the 3rd time in 5 years under the administration of President Muhammadu Buhari.

According to a statement by the Assistant General Manager (AGM), Government, External and Industry Relations at NERC, Mr Michael Faloseyi, the Commission said although tariff increase for Bands D and E (Customers getting power below 12 hours daily) remain ‘frozen’, it however admitted that the tariff rates for even these classes of customers were ‘adjusted’ upwardly.

“In compliance with the provisions of the Electric Power Sector Reform Act (EPSRA) and the nation’s tariff methodology for biannual minor review, the rates for service bands A,B,C,D and E have been adjusted by N2.00 to N4.00 per kilowatt hour (kWhr) to reflect the ‘partial’ impact of inflation and movement in foreign exchange rates.”

“NERC also said “Any customer that has been impacted by any rate increases beyond the above provision of the tariff order should report to the Commission.”

Varied increment

The latest tariff hike for the DisCos reflect varied increment percentage from 25 per cent above, records show. For instance, customers of Ibadan DisCo will pay an average of N46.5 per kWh from January to June 2021, rising from N34.1 as of December 2020, its order signed by NERC Chairman showed. The increase for this DisCo is N12.4 or 25 per cent.

According to a revised Multi Year Tariff Order (MYTO) signed by the new Chairman of NERC, Engr. Sanusi Garba, on December 30, 2020, and sighted Tuesday, the new tariff increase took effect on January 1, 2021, and supersedes the previous Order NERC/2028/2020.

In the new revised Service Based Tariff (SBT) Order NERC/225/2020, the commission said it considered the 14.9% inflation rate rise in November 2020, foreign exchange of N379.4/$1 as of December 29, 2020, available generation capacity, US inflation rate of 1.22% and the Capital Expenditure (CAPEX) of the power firms to raise the tariff.

This is effective till June 2021 while a Cost Reflective Tariff (CRT) expected to raise the new cost higher will be activated from June to December 2021, the NERC Order revealed.

Daily Trust had reported that in December, 2020, NERC notified that it had begun a review for another tariff amendment which has been completed and had taken effect from January 1, 2021.

How FG approved 3 tariffs in 5 years

Daily Trust reports that this is the third tariff increase NERC has approved for the 11 Distribution Companies (DisCos) in five years. It had increased the Multi Year Tariff Order (MYTO) 2015 by what customers described as over 50 per cent on February 1, 2016.

The MYTO template for reviewing tariff increase or decrease ought to be reviewed twice a year and the result implemented every six months.

Although indices like inflation, foreign exchange rates, gas prices went up with a lower generation capacity, prompting a further increase by June 2016, NERC failed to implement about at least nine tariffs on biannual basis, which piled up until 2020.

In the quest to gradually increase tariff by what it calls Cost Reflective Tariff (CRT), NERC planned a tariff hike of the Service Based Tariff (SBT) in April but postponed it to July due to COVID-19 pandemic.

It approved the hike for the DisCos starting September 2020, but suspended it after severe outrages; the Commission amended it with discounts and reintroduced it on November 1, 2020 which makes it the second tariff hike since 2016.

The new increase in January 2021 is the third of such in the last five years with a hike of about 25% on average varying across the DisCos.

NERC in the latest order planned another increase by June 2021 which will formally introduce a higher rate known as the CRT that it had targeted since 2020.

https://dailytrust.com/how-buhari-hiked-electricity-tariff-three-times-in-5-years

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by Nobody: 8:10pm On Jan 05
Baba buhari the hiker master

but wait oo baba fit no dey aware of the hike

72 Likes 3 Shares

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by chatinent(m): 8:43pm On Jan 05
Buhari is a good man with a good heart.
A godsend.

A living happiness.


I meant the irony.

81 Likes 2 Shares

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by GallantDuke(m): 9:36pm On Jan 05
I am sure Bubu will be shocked with this news

64 Likes 1 Share

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by JidennaJason: 10:07am On Jan 06
The Daura cow lover has sworn to make life unbearable for Nigerians irrespective of your ethnicity, but the amazing and funny thing is that some piece of dog shiits who tag themselves 'BMC' (Buhari Media Cows) will still give glory and honor to baba lifeless....



"Hiking of electricity tariff 3 times in 5 years"

What a bad record.

96 Likes 2 Shares

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by SilverNorGold(m): 2:26pm On Jan 06
Lol.. Electricity tariff is TOO CHEAP for my liking! I can't remember when last power was interrupted here! To be honest, the money we pay is TOO LITTLE compared to the quality service we enjoy.

Nigerians, let's not be TOO GREEDY and unappreciative abeg!

Nigeria is blessed!

MODIFIED

Those evil wailers quoting and insulting me for speaking the truth, I forgive you all. I leave you guys to God.

But next time, instead of attacking me, ask for evidence. I am ready to upload any kinda evidence you want to PROVE that power has indeed improved tremendously. So if you like believe, if you like doubt. Na una sabi.

God bless Nigeria.

1 Like

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by Favemmzar200(m): 2:26pm On Jan 06
SilverNorGold:
Lol
its very funny isn't it cry




Please let's keep praising him for the good works cry

18 Likes 1 Share

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by Sijo01(f): 2:27pm On Jan 06
That's what he does best.

Fuel, prices of food stuff and commodities, transportation fare, VAT etc. Just to mention few!

Oh, how can I forget insecurity, banditry, kidnapping etc. They've all experienced tremendous increase under buhari's watch.

31 Likes 2 Shares

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by fowlyansh181(m): 2:27pm On Jan 06
Nigerians believed false promises

21 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by Amspecial: 2:27pm On Jan 06
Buhari no go die well

1 Like

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by Fedrick100(m): 2:27pm On Jan 06
Why won’t it hike it
Nothing is important to Buhari in this country except his Cows

18 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by Amspecial: 2:27pm On Jan 06
Mad cow what is funny
SilverNorGold:
Lol

20 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by sofiscatedmoron: 2:27pm On Jan 06
We are doing well,
Paying for what we didn't see

3 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by fasho01(m): 2:27pm On Jan 06
Buhari is associated with hikes, depreciation, depression, deterioration, decay, diminishing, dwindling, downfall and degradation of everything that was once good and anything he touches like the economy, security, governance, the list is endless

25 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by onoms4luv(m): 2:27pm On Jan 06
The new increase in January 2021 is the third of such in the last five years with a hike of about 25% on average varying across the DisCos.

NERC in the latest order planned another increase by June 2021 which will formally introduce a higher rate known as the CRT that it had targeted since 2020.

Abeg I nor understand this part. Like them one increase the bill 2times for one year?

3 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by ipobarethieves: 2:27pm On Jan 06
sad Who's the minister in charge of power ? The person in charge is the one deceiving the old man.Chai! 2 yrs left sad sad

1 Like

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by NeoWanZaeed(m): 2:28pm On Jan 06
U VOTED FOR ILLITRATE OLD MAN. d0nt c0mplain. U think he even watches the news or read papers?

21 Likes 2 Shares

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by samwheel(m): 2:28pm On Jan 06
D old man derives orgasm from inflicting hardship to nigerians.

11 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by seunlayi(m): 2:28pm On Jan 06
2021 alone will be 3 times. Baba is cruel, Prof Wole Soyinka has said it all

8 Likes 1 Share

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by seunlayi(m): 2:29pm On Jan 06
NeoWanZaeed:
U VOTED FOR ILLITRATE OLD MAN. d0nt c0mplain. U think he even watches the news or read papers?
We earned them but they won't listened. He raped them 2015 and 2019

11 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by goodconsience77: 2:29pm On Jan 06
I'm pleading with Nigerians if you don't want these hiking of a thing to continue in 2023 don't ever vote the like of tinubu, fashola, orji or any APC candidate. They don't care about us all they want is more loot to them. They hate masses to the core.

20 Likes 1 Share

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by jasmine1600: 2:29pm On Jan 06
Buhari that is not even aware of his immediate environment. Some cabals are just using his non existence to loot the country dry.

13 Likes 2 Shares

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by allotuyMN: 2:29pm On Jan 06
see
Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by Ibelearner: 2:30pm On Jan 06
buhari shaa
Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by nairaman66(m): 2:30pm On Jan 06
For those who are neck deep in Buhari’s asss praising him. You think you are doing good after 6 years of his rule

9 Likes 1 Share

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by 234four: 2:30pm On Jan 06
SilverNorGold:
Lol.. Electricity tariff is TOO CHEAP for my liking!

10 Likes

Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by jaheymezz(m): 2:30pm On Jan 06
Omo
Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by ipadey: 2:30pm On Jan 06
Quite sadonic. How do you justify this increment driven by impulse as against right data analysis and chart. Its all a concoction of fraud and lies.... ,
ijustdey:


https://dailytrust.com/how-buhari-hiked-electricity-tariff-three-times-in-5-years
Re: How Buhari Hiked Electricity Tariff Three Times In 5 Years by unity004(m): 2:30pm On Jan 06
grin cheesy the fault is on we Nigerians. we left our ancestral gods and we are now worshipping foreign gods, now our ancestral gods are angry with us so they come send Buhari to us. our mumu never near to do

1 Like

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