The Minister of Power, Mr Adebayo Adelabu, has cast more light on the increase in tariff of electricity by the Nigerian Electricity Regulatory Commission, NERC.
The latter had announced hike in tariff for Band A category customers, expressly, those that enjoy 20-hour power, from N68/KWh to N225KWh.
This, which amounts to 240 percent hike has come under seething and general attack.
On Friday at the Ministerial Press Briefing Series organised by the Ministry of Information and National Orientation in Abuja, the Power Minister put in word for the price increment saying it’s not applicable to the greater number of customers.
According to him, ”From the latest statistics, we have about 12 million customers in the sector and this (tariff increase)will only affect about 1.5 million customers.
”The remaining 10 .5 million customers will continue to enjoy government’s subsidy ,which is almost 70 per cent of the population.
”This review is in conformity with our policy thrust of maintaining a subsidised pricing regime in the short run or in the short term with a transition plan to achieving a full cost reflective tariff for the sector over a period of three years.”
