For many Nigerians, the first 22 days of President Bola Ahmed Tinubu’s administration have been ‘bitter-sweet.’His quick-fire decisions, hailed by many variously as “bold,” “decisive,” and “correct,” are not without attendant effects that are grim and grueling for the average Nigerian.For instance, the price of Premium Motor Spirit (PMS) has soared following the removal of fuel subsidies. Recently, there has been speculation of an impending Value Added Tax (VAT) on...

Two months after the Buhari administration controversially imposed an increase in electricity tariffs, a new hike has been approved for power distribution companies (DisCos), effective from January 1, 2021.Nigeria’s power regulator, NERC, had in a revised Multi Year Tariff Order (MYTO) on December 30, approved over 50 per cent hike in energy bills, Daily Trust reported on Tuesday.Under the new arrangement, the revised Service Based Tariff (SBT) will witness increase...

The Nigerian Electricity Regulatory Commission on Friday insisted that electricity Distribution Companies must not increase tariffs of customers enjoying less than 12 hours of power supply daily.Mr Dafe Akpeneye, NERC Commissioner, Legal Licensing and Compliance, made the clarification during the regulatory agency’s online town hall meeting with customers on the new electricity tariff regime.The DisCos had on September 1 announced the implementation of new Service R...