Two major electricity distribution companies in the country, the Eko Electricity Distribution Company (EKEDC) and Ikeja Electric have secured the approval
Nigeria needs to increase its electricity generation from about 5,000 to 100,000 Megawatts to power the nation’s economy.
This was disclosed by the Chairman of Transcorp Group, Tony Elumelu in an interview on Arise TV on Wednesday. According to him, the nation needs to stabilize its transmission lines, provide adequate gas supply and strengthen her payment plans.
He said,
“Nigeria needs about 100,000 MW to power the economy. It also needs to stabilize the transmission lines and ensure access to gas supply.
For Nigerians to heave a sigh of relief in the sector, it needs to boost generation, fix gas supply to GenCos, boost payment of distribution and ensure power generated are taken by DisCos. Here I must commend the CBN Governor because he has helped to maintain peace in the space.
The Nigerian Electricity Regulatory Commission (NERC) says it is concluding the Extraordinary Tariff Review process for the 11 Electricity Distribution Companies (DisCos).
NERC, which is the regulator of Nigeria’s power sector, made this known on Monday in a notice to the general public and industry stakeholders posted on its website.
The commission said the review was pursuant to the provisions of the Electric Power Sector Reform Act (EPSRA).
According to NERC, extraordinary tariff reviews are carried out in instances where industry parameters have changed from those used in the operating tariffs to such an extent that a review is urgently required to maintain the viability of the industry.
Electricity tariffs may rise in July, NERC plans review punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
Electricity tariff hike looms in Nigeria as NERC concludes extraordinary review vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.