Senate Convinces DISCOS To Suspend Today's Electricity Rate Hike
The Nigerian Senate has supposedly convinced electricity distribution companies (DisCos) to shelve a planned increase in tariff, slated to kick-off today July 1, 2020.
The DisCos have been making the case for a cost-reflective tariff, insisting that they are practically running at a loss with the current pricing regime.
In January, the Nigerian Electricity Regulatory Commission announced that there would be an upward review of electricity tariffs across the country from April 1. In March, NERC asked DisCos to suspend the proposed tariff hike due to the COVID-19 pandemic till today July the 1st
Related: Father Meets Son For The Fisrt Time As Uzodinma Joins Adopted Son Oluomachi Opara In Church [Video]
However, during a meeting held with power stakeholders, Senate President Ahmad Lawan and Speaker of the House of Representatives Femi Gbajabiamila insisted that the planned hike couldn’t have come at a worse time for suffering Nigerians.
"The agreement here is that there is not going to be any increase in the tariffs on July 1st," Lawan said after the meeting which was attended by the representatives of NERC, Kano Electricity Distribution Company, Ikeja Electricity Distribution Company, Kaduna Electricity Distribution Company and Eko Electricity Distribution Company.
Even though temporary, Nigerians are elated over this pleasant development.