The Nigerian Electricity Regulatory Commission (NERC) will conduct a minor tariff review every six months to reflect the economic situation, especially the disparity between naira and other major currencies, specifically the dollar.

NERC Chairman, Sanusi Garba, who stated this said the commission was not implementing tariff review in secrecy.

Speaking at a media briefing in Abuja, Mr Garba said: “We will adjust the rate every six months to take care of the foreign exchange component of costs, and also inflation. This is absolutely a very straightforward thing.”

He said;  “Now subsidy is a policy issue determined by the government. The government will decide that the rates calculated or agreed by the regulator may at this time not be passed on to consumers. It has happened many times.

“In the past four, five years the level of subsidy has gradually been reduced, because you cannot run the electricity market on life support and say that investors cannot get their return on investment until government steps in to provide the required funding.

“Now subsidy is a policy issue determined by the government. The government will decide that the rates calculated or agreed by the regulator may at this time not be passed on to consumers. It has happened many times.

“In the past four, five years the level of subsidy has gradually been reduced, because you cannot run the electricity market on life support and say that investors cannot get their return on investment until government steps in to provide the required funding.”