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N/Assembly Halts Hike In Electricity Tariff

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The leadership of the National Assembly has asked distribution companies to put the planned hike in electricity tariffs on hold.

They were further requested to defer the plan till the first quarter of 2021.

 This was the outcome of a meeting held between  President of the Senate, Ahmad Lawan,  Speaker of the House of Representatives, Femi Gbajabiamila, other principal Officers of the two Chambers and Chief Executives of  Government Electricity Regulatory Bodies as well as DISCOs across the country.

 The National Assembly leaders raised issues with the timing of the planned hike but however noted that there was need to introduce a cost reflective tariff for the power sector to attract  more investment.

The meeting agreed to defer the planned hike till first quarter of next year, while the leadership of the National Assembly promised to meet with President Muhammadu Buhari on the issue.

Recall that Distribution Companies (DISCOs) had planned to hike electricity tariff with effect from  July 1st, 2020, before intervention of the National Assembly.