The House of Representatives has taken a decisive stance against the proposed increase in electricity tariffs, directing the National Electricity Regulatory Commission (NERC) not to approve the request made by the Discos.
The resolution was passed on Thursday, during plenary session in response to widespread concerns over the potential 40 percent tariff hike, prompted by soaring petrol prices.
The motion to reject the increase was sponsored by Sani Madaki, a member of the New Nigeria Peoples Party (NNPP) from Kano State.
Rumors about the impending tariff hike surfaced as the 2022 multi-year tariff order (MYTO), which undergoes bi-annual reviews, was scheduled for evaluation this month. It was speculated that a new electricity tariff regime would take effect nationwide on July 1.
However, official confirmation was lacking, and as of now, the existing tariff rates remain unchanged.
The resolution by the Green Chambers to prevent the increase in electricity tariffs reflects the lawmakers’ commitment to shield the Nigerian populace from additional financial burdens in the face of escalating petrol prices.
The decision comes as a relief to consumers who were apprehensive about the potential impact of higher electricity costs on their daily lives.
Furthermore, the House of Representatives has expressed its intent to closely monitor developments in the energy sector to ensure that consumers are protected from any arbitrary tariff adjustments that might arise in the future. It aims to foster a transparent and accountable regulatory environment that prioritizes the welfare of the public.
Considering the ongoing global energy challenges, the Nigerian government is urged to explore viable long-term solutions to stabilize electricity tariffs while providing reliable and sustainable power supply.
Investments in renewable energy sources, improved energy efficiency, and the promotion of local energy production could be instrumental in achieving these objectives.
As the nation continues to navigate the complexities of energy pricing and availability, it is imperative for policymakers and stakeholders to collaborate in finding comprehensive and sustainable solutions that foster economic growth and social welfare.
This approach will not only shield citizens from undue financial burdens but also bolster Nigeria’s energy resilience in the face of future uncertainties.