You are here: HomeBusiness2020 09 03Article 375454

Business News of Thursday, 3 September 2020

Source: www.mynigeria.com

Atiku condemns electricity tariff increase

File photo: Atiku Abubakar File photo: Atiku Abubakar

Atiku Abubakar, the former Vice President, has openly criticized and rejected the 100 percent increase in electricity tariffs, dismissing it as “ill-timed and ill-advised”.

According to him, Nigerians need stimulus after the impoverishing effect of the lockdown on most businesses and lives, and not increased costs of living.

The Nigerian Electricity Regulatory Commission (NERC) had approved an increase in electricity tariff with effect from September 1, 2020.

The increment will be based on hours of electricity supply as against as against the previous categories of residential, commercial and industrial customers with different bands (A to E) depending on the level of supply.

For Ikeja Electric, a residential customer on single-phase receiving a minimum of 12 hours of supply will pay N42.73 per KWh up from N21.30 per kWh.

For Eko Electricity Distribution Company, a residential customer on single-phase receiving a minimum of 12 hours of supply will now pay N43.01 per kWh, up from N24 per kWh.

For Abuja Electricity Distribution Company, a residential customer on single-phase receiving between 12 to 16 hours of supply will now be charged N45.69 per KWh, up from N24.30 per kWh.

But Atiku, in a tweet on Thursday morning said: “I reject the increased electricity tariffs. Coming out of the lockdown, Nigerians need a stimulus, not an impetuous disregard for the challenges they face. Many Nigerians have not earned an income for months, due to no fault of theirs. This increase is ill-timed and ill-advised.”

View his tweet below: