The Senate and House of Representatives have halted the 100 per cent electricity tariff slated to begin tomorrow, July 1, 2020, across the states of the federation.
The halt to the increment came after the National Assembly leadership’s intervention at a meeting with the Electricity Distribution Companies (DisCos), the National Electricity Regulatory Agency (NERC) and others in the power chain, Monday night.
Recall that the DisCos announced at the weekend that the tariff pushed forward from April 1 would go up from July 1.
The notice of increment was served to consumers through the media that the new pay system would affect them.
However, consumers, business operators, manufacturers and others protested the planned increase which they argued would negatively impact business at a critical time such as this.
But the DisCos insisted, adding that only a cost-reflective tariff could guarantee their survival to keep the power sector afloat.
Monday’s meeting was presided over by Senate President Ahmad Lawan, supported by House of Representatives Speaker Femi Gbajabiamila.
They promised to take the DisCos’ request to President Muhammed Buhari and urged them to push the tariff raise till April 2021.
In a statement, Special Adviser (Media) to the Senate President, Ola Awoniyi, said the National Assembly leadership was emphatic at the meeting that the timing of the hike was wrong.
The statement added that the National Assembly leadership told the DisCos that they were not opposed to the cost-reflective tariff for the power sector to attract the much-needed investment.
The DisCos also admitted that they were not fully prepared for the planned tariff hike although they desired it.