Federal Government Slashes Electricity Tariff By 50%

The Nigerian Electricity Regulatory Commission has slashed its electricity tariff by 50percent. The announcement was made today, Tuesday, 17th of March, 2015 after the commission said it has been bombarded with series of complaints from various classes of electricity consumers.

The Chairman of the Commission, Sam Amadi, while making the announcement in Abuja says the reduction will take effect from the end of March.

“The Commission has been listening to consumers’ complaints and taking full account of the impact of the high tariff on consumers and the Nigerian economy, the Commission has reviewed the basis of the MYTO 2.1 assumptions and has determined that it is inappropriate to transfer to consumers collection losses that are controllable by the DISCOs (distribution companies),”Mr Amadi said.