Electricity distribution companies in Nigeria have agreed to suspend the planned increase in electricity tariff after a meeting with the National Assembly leadership, an official has said.
Details of the meeting were made known in a statement by Ola Awoniyi, the media aide to Senate President Ahmad Lawan. The lawmakers noted that the timing of the planned hike was wrong even though they had not much issue with the need to introduce a cost reflective tariff for the power sector to attract the much needed investment.
“We are in agreement here that there is no question on the justification of the increase but the time is simply not right and appropriate measures need to be put in place. So between now and the first quarter of next year, our task will be to work together with you to ensure that we put those blocks in place to support the eventual increase in tariffs,” Mr Lawan was quoted as saying.
In the same vein, Mr Gbajabiamila said the National Assembly is on the same page with the DisCos on the issue of cost reflective tariffs.
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