An ad-hoc committee of the House of Representatives on the Need to Evaluate the Multi Year Tariff Order (MYTO) has asked the Ministry of Power and the Nigeria Electricity Regulatory Commission (NERC) to review the high cost of electricity in Nigeria.
The committee made the appeal during an interface with key stakeholders in the power sector including the Ministry of Power, Nigerian Electricity Regulatory Commission (NERC) NERC, Distribution Companies Discos and Generation Companies Gencos and other players in the industry.
While declaring the hearing open, speaker of the House, Yakubu Dogara, said the constitution of the committee on the need to evaluate the MYTO became imperative due to the barrage of public outcry on the high cost of electricity in Nigeria.
Dogara said that there was the need for a good tariff regime in the electricity industry which at the same time would not jeopardise the growth of the electricity sector.
He charged the key players in the power sector to come up with an acceptable tariff system that was acceptable to Nigerians.
In the same vein, chairman of the ad-hoc committee, Hon. Aminu Ashiru Mani, in an opening remarks said that there has been prolonged public outcry over the high cost of electricity in Nigeria.
The lawmakers submitted that a persistent increase in electricity tariff from N10 per kilowatt to N80 per kilowatt of electricity was unacceptable to Nigerians.
They added that there was the need to critically evaluate the MYTO system and re-assess all its inputs and assumptions in order to come up with a realistic and acceptable tariff regime in Nigeria.
However the permanent secretary in the ministry of power, Mr. Louis Edozien, said the high cost of electricity tariff would be a thing of the past when the metering challenges in the power sector was adequately addressed by the ministry.
Moreover, chairman of NERC Prof. James Momoh, told the committee that the issue of metering would always have a great impact on electricity tariff.
He informed the lawmakers that the high cost of electricity tariff was due to the high cost of production and distribution of electricity by power sector players.
He added that as a regulatory agency, they were working on providing meters to three million electricity users in Nigeria.
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