FG opposes electricity tariff reversal, backs NERC

Babatunde Fashola
Babatunde Fashola

The Federal Government opposed the court ruling that mandated it and the Nigerian Electricity Regulatory Commission to reverse the 45 per cent increase in power tariffs payable by consumers across the country.

It also commended NERC for appealing the judgement, describing the ruling as a setback that posed a challenge, which had prompted misunderstanding in the sector.

The Minister of Power, Works and Housing, Babatunde Fashola, disclosed this during the signing of the front-runner Power Purchase Agreements between the Federal Government and 14 solar power development and promoting companies in Abuja.

In his address at the ceremony, Fashola saluted the courage of the solar power investors despite the court ruling, and stressed that a lot of unusual things were beginning to happen in the sector, among which was the judicial intervention.

He, however, stated that despite the various concerns in the sector, the Federal Government would play by the rules that drive the electricity business.

YOU MAY ALSO LIKE:   No N4.6bn stolen under my watch – Minister of Works and Housing, Fashola says

Fashola said, “I must say that as all of these are happening, the Nigerian government has demonstrated that it will play by the rules, especially in the power sector. I must, therefore, commend our regulators, NERC, for the position that they have taken regarding the judgement. The commission has shown that although it disagrees with the judgement, it is challenging it as the law allows.

“To me, it is a positive sign for our power sector. The decision of NERC to respect the court is a sign that conflicts and interests in the power sector can be resolved in a democratic environment. These are the hallmarks of a good economic and investment-worthy destination. There are silver linings in the cloud of the setback, which the judgement appears to represent.”


Kindly share this story

Similar Posts

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.