MAN flays planned electricity tariff hike

The Manufacturers Association of Nigeria (MAN) has described as ‘insufficient’ the reasons given by electricity distribution companies and the Nigerian Electricity Regulatory Commission (NERC) for the planned increase in electricity tariffs.

President of the association, Dr. Frank Jacobs, while explaining the planned tariff hike to Bloomberg recently, said efforts to boost power supply have been hampered by factors including gas supply, foreign exchange shortage and inflation that have increased the cost of energy and infrastructure for the power companies.

However the MAN president said that the reasons given were not sufficient for the tariff increase in the magnitude being contemplated by NERC and the Discos and noted that NERC and the Discos were simply looking for ready-made excuses to increase tariffs.