Minister of Power, Adebayo Adelabu has claimed that the electricity tariffs that were recently increased, will reduce if the exchange rate falls below N1,000 to a dollar.
Adelabu made this comment when he appeared on Channels
Television’s Politics Today on Thursday.
On April 3, the Nigerian Electricity Regulatory Commission,
NERC, announced 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 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.
“There are variable factors that go into the composition of
the tariff, and we are not closing our eyes to it,” Adelabu said.
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