The Nigerian government has no feasible plan on how to fund the N1.7 trillion shortfall in cost consequent upon the adjustment in electricity tariffs announced by the Nigerian Electricity Regulatory Commission last January, the electricity generation companies said in Abuja on Monday.
The federal government had given its commitment to continue to subsidise the over N1.7 trillion gap in electricity cost to consumers pending the adjustment in tariffs by NERC. “The seeming gaps are shown through the four parameters considered in the minor review namely: inflation, interest rates, exchange rates and generation capacity as it affects or impacts our business.
A fortnight ago, NERC unfolded plans to stop the payment of any form of tariff support, except for the less privileged Nigerians in the sector by 2021. But on Monday Mrs Ogaji urged NERC to explain how it arrived at the MYTO review that did not capture the shortfalls in the sector. “Why this differential treatment? What’s the justification behind GenCos getting only 36 per cent of their revenue requirement, while the DISCos will receive a 100 per cent if it just manages to make the minimum remittance that the DisCos have never adhered to?”
This gencos or whatever your name is, if you can't handle this power thing free it na, light we no see but everyday increase haba.
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