The Kaduna Chamber of Commerce has expressed concern over what it described as “dire and disastrous implications” of the recent increase in electricity tariff by the Electricity Regulatory Commission (NERC).
In a statement on Thursday in Kaduna, Ishaya Idi, president of the chambers, said the increase is ill timed considering the fact that businesses are barely struggling to survive the harsh economic situation in the country.
He said, “This review is, to say the least, ill-timed as it came at the time when businesses are struggling to survive as they are groaning under extremely challenging and life threatening conditions.
“Again, the citizenry continues to be impoverished as a result of policy decisions taken by the federal government within the last one year including withdrawal of fuel subsidy and depreciation of the naira in addition to insecurity being faced by all.
“It is indeed surprising that under the prevailing circumstances, NERC will deem it appropriate and acceptable to approve such massive increase in one fell swoop without due consultations with relevant stakeholders and representatives of electricity consumers.
“Moreover, the issue of having an improved power supply in the country has not been properly addressed by the same regulatory agency in the face of continued increase in electricity tariff with power generation at a constant 4,500 MW for years.”
According to Idi, the situation is further exacerbated by structural inefficiency, wastage, leakages and corruption in the electricity sector even as millions of electricity consumers are yet to be metered and continue to be charged under the obnoxious monthly estimated bills.
The statement appealed to NERC to reconsider its stand on the approval of the new electricity rate. “In this regard, it behooves on NERC to meaningfully engages with all stakeholders for the best way forward in terms of development of a robust and dependable Nigerian Electricity Supply Industry and access to rightly priced and stable power supply by Nigerians”, the statement added.