DISCOS SUSPENDS PLANNED INCREASE IN ELECTRICITY TARIFF
Electricity distribution companies in Nigeria (DisCos) have agreed to suspend the planned increase in electricity tariff after a meeting with the National Assembly leadership at the Presidential Villa today.
Speaker of the House of Representatives, Femi Gbajabiamila, speaking to journalists at the Presidential Villa, said the effective date of the hike had to be postponed.
According to Gbajabiamila, both President Buhari and Osinbajo made a unanimous decision with the National Assembly leadership on the suspension of the hike given the effects of the Covid-19 pandemic on the people.
According to reports, the Discos reportedly agreed to suspend the increase in tariff till the first quarter of next year.
The Speaker said: “Let me just say that we saw the president earlier this morning and we have seen the Vice President today. The whole idea is that when there is a major policy decision, it is always good that the legislature and the executive are on the same page so that we don’t sing different tunes.
“I will like to say that I think we have all agreed on an increase in cost reflective tariff but the issue is that the timing is also important. Sometimes, timing is more important than even the policy decision that you make.
“There is a saying that the road to hell is often paved with good intentions. So the intentions are good but what about the timing?
“We have all agreed to suspend this for a while, tarry a while and get the buy-in of the people, explain to the people why this has to be done, that it is for the betterment for the electricity to get stable.’’
Recall that Eons Intelligence had reported on June 30th that the hike in tariff was slated to take off on July 1st, as announced by the Nigerian Electricity Regulatory Commission (NERC).
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