Mr. Adebayo Adelabu, The Minister of Power declared that the recentlyincreased electricity tariffs will be lessened if the exchange rate falls below N1,000 to a dollar.
Mr. Adelabu made this comment when he appeared on Channels Television’s Politics Today on Thursday.
On April 3, The Nigeria Electricity Regulatory Commission, NERC, made a public declaration on the removal of subsidy on the electricity consumed by Band A customers.
Band A customers now pay N255/KWh, a hike from N68/kWh, while others maintain the old tariffs.
But Mr. Adelabu has now given conditions for a possible reduction.
“The tariff is flexible. I can tell you if the naira gains more and the exchange rate comes down below N1,000 to a dollar, it must positively affect the tariff; and the tariff, even for Band A, will come down below the N225/KWh that we are currently charging.
Mr. Adelabu in his statement, finally said; “There are variable factors that go into the composition of the tariff, and we are not closing our eyes to it’.
saharandaily