legal framework.
He said, “The legal framework that we have in place which regulates the power sector, was set up in 2004, just to enable the government to privatize the sector.“Now we’ve gone beyond privatisation, and there has to be an electricity act for the country. The Senator said the electricity distribution companies operating in the country had acceded to the appeal by the National Assembly to suspend their planned tariff hike, which should have started in August.
“By their own programme, the distribution companies are supposed to activate tariff increase by the first of July this year but the National Assembly appealed to them to tarry a while so that Nigerians could recover from the economic shock before they can activate the tariff. Chairman/Chief Executive Officer of the NERC, Prof. James Momoh, said the electricity sector in Nigeria requires $2.1bn to provide additional infrastructure to boost supply, bring in investors and improve the quality of life.
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