Full details of FG and Labour meeting over petrol,electrify tariff hike
The full details of FG and labour meeting over petrol,electrify tariff hike has emerged
Festus Keyamo, Minister of State, Labour and Employment, has given an update on the meeting between the Federal Government over the hike in electricity tariff and new fuel price
According to Keyamo, the new agreement involves using Value Added Tax (VAT) from Nigeria Electricity Supply Industry (NESI) to give relief to customers within the Bands A, B, and C affected by the recent cost-reflective electricity tarrif.
A new agreement has been reached where the relief will be for a period of 2-3months, where customers will get N10.20 per KWh which will be sourced from the proceeds of NESI VAT.
In a recent tweet he wrote:
Labour and Government have adopted these Resolutions of the Adhoc Committee I chaired. Highlights include using VAT proceeds to temporarily subsidize tariffs whilst my Committee will work for two more months to resolve other issues that may substantially affect tariff adjustments.
“Other immediate reliefs include provision of six million free meters to Nigerians, salary protection for electricity workers, mandatory refund for any over-billing during system transition by the Discos, monthly publication by NERC of allowed billing of unmetered customers, etc.”
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