The Nigerian House of Representatives has directed the Nigerian Electricity Regulatory Commission (NERC) to suspend the implementation of the recently announced tariff hike.
Additionally, the House demanded the suspension of additional requirements outlined in the Multi-Year Tariff Order review.
To address concerns over the pricing regulation of the Nigerian Electricity Supply Industry (NESI), the House constituted a special committee comprised of members from various relevant committees. This committee will conduct a comprehensive hearing involving key stakeholders such as leaders of chambers of commerce, labor unions, government officials, and utility company CEOs.
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In an effort to ensure a thorough evaluation of NERC’s procedures and establish appropriate legislative oversight, the House approved the appointment of a reputable former regulator as a technical consultant. This consultant will collaborate with the special committee to draft a bill aimed at enhancing regulatory procedures for tariff setting in the electricity and public services sectors.
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The motion, raised by Hon. Nkemkanma Kama, underscores the importance of addressing concerns related to the sudden increase in electricity tariffs, which has raised issues of due process, fairness, and consumer impact. The motion emphasizes the need for regulatory accountability, consumer rights protection, and the restoration of public trust in the electricity sector.
The House motion highlights the failure of due process in authorizing the tariff increase, concerns over discriminatory practices, and the debatable nature of government subsidies to electricity distribution companies (DISCOs). It proposes resolutions to halt the tariff increases, form a special committee for hearings, hire a technical consultant, and enact legislation to enhance regulatory procedures.
Meanwhile, Minister of Power Adebayo Adelabu defended the tariff increase, stating that the government can no longer afford electricity subsidies and that the industry requires significant investment for stability. He noted that the increase in electricity prices for certain customers is attracting more investors to the sector.
The House’s actions reflect a commitment to addressing critical issues in the electricity sector while balancing the interests of consumers, regulatory agencies, and industry stakeholders.
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