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From Isaac Anumihe, Abuja
The Nigerian Electricity Regulatory Commission (NERC) has said that with the newly approved tariffs, subsidies for the 2024 fiscal year are expected to reduce by about N1.14 trillion.
In a statement, the commission said that it has established a robust monitoring framework leveraging on technology to ensure that the public have visibility of the service covenant with their service providers.
According to it, an enforcement and compensation mechanism has also been established, in the event of service failure.
“We wish to assure all Nigerians that the commission working in collaboration with the policymakers remains committed to providing adequate and reliable electricity to all citizens as we work diligently with state governments to deliver on the gains of the Electricity Act 2023,” the commission noted.
NERC also stated that the distribution companies (DisCos) are under an obligation to provide customers classified under Band A service category a minimum average supply of 20hrs/day measured over a period of one week.
“All other customers under Band B to E service category and representing 85 per cent of customers population would not be affected by the current review of end-user tariffs. All DisCos have been provided with mandatory targets for investments and migration of more customers to Band A service category.
“We wish to assure all Nigerians that the commission, working in collaboration with the policymakers, remains committed towards providing adequate and reliable electricity to all citizens as we work diligently with state governments to deliver on the gains of the Electricity Act 2023,” NERC said.
