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Nigerians to pay more for inconsistent power, as new electricity tariff structure kicks off today

Beginning from today, electricity consumers in Nigeria will have to pay more, as the Federal Government approves a new tariff structure.

The new tariff will not, however, affect electricity consumers in residential houses, up till after six months, when power supply is expected to have improved nationwide.

Mr Sam Amadi, chairman of Nigerian Electricity Regulatory Commission (NERC), disclosed this in Abuja, when he signed a N213 billion memorandum of understanding (MOU) with the chief executives of Deposit Money Banks (DMBs) and the Central Bank of Nigeria (CBN) .

The NERC boss said “while we ensure that the tariff is cost reflective, it will not constitute a burden on consumers immediately.

Mr Sam Amadi

“For the avoidance of doubt, there will be no increase for residential consumers for, at least, six months until we begin to see improvement.

“We expect that with more gas coming to the power plant because of these facilities and other interventions, in the next two, three months, there will be increase in capacity.

“There will be more reliability and the metering plan that is ongoing, we will be able to ensure that consumers will be much more comfortable.

“We will approve the tariff by tomorrow (today) which is already well known to the Central Bank of Nigeria and the transaction advisers, as well as the participants from the deposit money banks. That tariff is guaranteed. It is going to come into effect by tomorrow (today),” he said.

Speaking in the same vein, the CBN Governor, Mr Godwin Emefiele, recalled that in a meeting in Lagos, the issue of tariff was critically considered and it was decided that it would not weigh down the pockets of Nigerians.

“So, what we are doing here today is to say that yes, we are now at the point where the Nigerian Deposit Money Banks, as well as the Central Bank of Nigeria (CBN) are now ready to work together to clear the legacy debts.

“As we clear these debts, the entire chain becomes clear, the business becomes commercially viable for existing investors to continue to do their business and for new investors, who are interested to come into this business and then boost our power and gas sectors in Nigeria,” he noted.

Kwara United gain promotion to NPFL ; Ranchers Bees fined =N=1.2 million after pitch encroachment, beating referee

Charles Ozigbo

Kwara United Football Club yesterday gained promotion to the Nigeria Premier League, courtesy of the decision of the Nigeria National League on its abandoned rescheduled match against Ranchers Bees of Kaduna.

The NNL in a letter to the two clubs signed by its scribe Mr. Lawrence Katken, awarded three points and three goals to the Afonja Warriors in line with article 4.3(1) for Ranchers’ encroachment on the field of play which caused the discontinuation of the match.While Kwara United got the ticket to the premier league, Ranchers Bees was fined N1.2 million and three of its players and two officials were banned for one year each.

The NNL said Ranchers is fined N1, 000,000 in line with article 4.3(1) and 4.3(5) as well as pay the sum of N200, 000 for assault on the match officials. A Referee from Anambra State, Charles Ozigbo received the beating of his life over the weekend at the Fifa Goal Project Technical Centre in Abuja during the National League Week 30 tie between Ranchers Bees and Kwara United after he was pounced on by fans allegedly loyal to Kaduna based Bees.

The initial game between the two teams was abandoned in the 62nd minute at 2-2 at the Ahmadu Bello Stadium, Kaduna some weeks ago after Afonja Warriors’ players had to run for safety over threat on their lives from home fans who wanted Ranchers Bees’ return to the top flight at all costs.

Hell was let loose when the referee awarded a penalty against Ranchers Bees and their fans invaded the pitch to pounch on Ozigbo who was beaten to a state of coma before he was eventually rescued.

Ranchers Bees needed a draw to qualify for the premier league after many years in the lower league while a win would see Kwara United gain an instant return to the top flight after a season in the lower cadre.

NERC, DMBs, CBN SIGN MOU ON STABILIZATION FUND AS NEW TARRIFF SET TO BE EFFECTED TOMORROW

The Nigerian Electricity Regulatory Commission, NERC, says the new electricity tariff will come into effect tomorrow. Announcing this to Newsmen in Abuja, at the signing of the MOU on the electricity stabilization fund, with the deposit money banks in the country and facilitated by the Central Bank of Nigeria, Chairman NERC, Dr Sam Amadi, however said the facility will erode the payment of the new tariffs by Nigerians for the next 6month, after which it will be reviewed.

He said the MOU with DMBs, is to ensure the sector is viable and reliable, while there will be an aggressive improvement in electricity generation and distribution across the country.

Meanwhile, commending the commitments of the DMBs in the revival of the power sector, CBN Governor, Godwin Emefiele, said clearing the debt will encourage an efficient and effective gas supply system. He added that the facilitation is worth over N213 billion. 

It would be recalled that the CBN had last month, offset N36.9 billon legacy debt owed to gas suppliers by the power sector under the defunct Power Holding Company of Nigeria (PHCN) over the last few years, which was part of the N213 billion intervention fund.