Federal Government reduces electricity tariff by over 50%

  The Federal Government of Nigeria  has announced the reduction in electricity tariff by half. Chairman of the Nigerian Electricity Regulatory Commission, Sam Amadi, who made the announcement in Abuja today March 17th, said after a review of the tariffs being paid by Nigerians, the commission agreed to slash it by half. The reduction takes effect from the end of March. He said the commission agreed to remove the Multi-year tariff order, MYTO 2.1 following multiple petitions and complains from Nigerians especially members of the Manufacturers Association of Nigeria who said inclusion of the MYTO 2.1 caused them to spend more on their businesses and in some cases loss of jobs.
“The Commission also invited the Chief executive Officers of the distribution companies to the hearing to respond to the case of the consumer groups. Furthermore, the Commission reviewed the technical and financial assumption of MYTO 2.1. The review shows that the major underlying cause of the skyrocketing increase in the tariff is the huge Aggregate Technical, Commercial and Collection (ATC&C) losses, which are passed through to consumers. In some DISCOs ATC&C losses increased tariff by as much as 80-103%. “
This is such good news....is it because of elections....well we need this kind of changes that would affect the masses lives positively. Way to go.......government do more!!!!