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Experts in the power sector are urging President Bola Tinubu’s administration to begin installing the pending five million meters promised to households under the National Mass Metering Programme (NMMP) to alleviate the suffering of Nigerians.
The Multi-Year Tariff Order (MYTO) has already stipulated that a major and minor review of electricity tariffs should be done yearly.
However, the experts argue that the MYTO has been heavily dependent on inflation and foreign exchange benchmarks against the dollar, which are factors beyond Nigeria’s control.
The planned 40% increase in tariff, coming after an astronomical hike in the price of fuel, would be a double jeopardy for Nigerians.
The government must take steps to avoid the harsh impact on the people and consider palliatives to cushion the general effect of the economic situation in the country.
This article was updated 1 week ago
