Home KNN Business NASS HALTS PLANNED ELECTRICITY POWER HIKE

NASS HALTS PLANNED ELECTRICITY POWER HIKE

NASS

The National Assembly has put on a standstill to the planned hike in electricity tariffs from July 1, 2020, by electricity Distribution Companies across the country.

This was the outcome of the meeting led by the Senate President, Ahmad Lawan.

The meeting had in attendance the leadership of the National Assembly, Chief Executive of government electricity regulatory body and electricity Distribution Companies across the country.

In the meeting, the leadership of the National Assembly succeeded in convincing the Distribution Companies to defer the plan until the first quarter of 2021.

According to the leadership of the National Assembly, although, there is need to introduce cost-reflective tariffs for the power sector to attract the much-needed investment, this is not the right time to increase tariffs.

They noted that a time when Nigerians are facing the challenges on their means of livelihood as imposed by the COVID-19 pandemic is a wrong timing for the planned action.

Meanwhile, the leadership of the National Assembly is expected to meet President Muhammadu Buhari on the issue.