According to report reaching OYOGist.com, President Muhammadu Buhari has approved the new pricing structure for the Nigerian Electricity Supply Industry (NESI). It was reported that the new power supply scheme will not affect the poor housing sector. President Buhari also agreed to a 35% tax cut on new imported power meters.
In January, the National Electricity Regulatory Commission (NERC) announced an increase in electricity tariffs across the country from April 1.
NERC suspended Discos from distribution plans in March due to the outbreak of the coronavirus epidemic.
Similarly, in June, the Senate persuaded DisCos to postpone the increase in electricity tariffs until early 2021 following the outbreak of the coronavirus in 2020.
Senate President Ahmad Lawan called for the provision of modern electricity meters to the public before the increase in electricity tariffs.
The new system approved by President Buhari will take effect on September 1, and will be revised every three months.
The increase is part of the bailout package for the power sector. Under the new system, R3 consumers in Abuja will have to pay N47.09 and N63.42 from N27.20 per unit of electricity.
Customers on the R3 system in Lagos will reimburse N36.49 and N58 out of the N26.02 they paid on each previous electricity unit, the Ikeja Electricity Distribution Company (IKEDC) has announced.
