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Indications emerged on Thursday that the planned July 1, 2021 review of the various electricity tariffs in Nigeria had been stalled following concerns around low power generation by the sector

todayJuly 2, 2021

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Indications emerged on Thursday that the planned July 1, 2021 review of the various electricity tariffs in Nigeria had been stalled following concerns around low power generation by the sector.

It was gathered that gas constraints to gas-fired power generation plants and the reduced water level needed by hydropower stations had impacted negatively on electricity generation in the past three months.

Industry officials from the Federal Ministry of Power, Nigerian Electricity Regulatory Commission, as well as power generation and distribution companies told reporters that the highlighted issues stalled the proposed review of tariffs by the NERC.

In April, NERC announced that there would be a review of tariffs for Nigeria’s 11 power distribution companies in July.

Written by: EaglesFM

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The country’s external reserves maintained a downward trend as it lost $905.5m in June, figures obtained from the Central Bank of Nigeria showed on Thursday.

The country’s external reserves maintained a downward trend as it lost $905.5m in June, figures obtained from the Central Bank of Nigeria showed on Thursday. According to the CBN’s data on the movement of reserves, the reserves fell to $33.32bn as of the end of June 30 from $34.23bn on May 31. The reserves stood at $34.88bn at the end of April 30. Financial experts have expressed the need for […]

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