Administrator of the Nigerian Electricity Regulatory Commission, Sam Amadi said the Federal Government of Nigeria has declared the decrease in power duty significantly. Sam made the declaration in Abuja today March seventeenth, said after a survey of the duties being paid by Nigerians, the commission consented to cut it considerably. The lessening produces results from the end of March. Sam Amadi said the commission consented to uproot the Multi-year duty request, MYTO 2.1 after various petitions and gripes from Nigerians particularly individuals from the Manufacturers Association of Nigeria who said incorporation of the MYTO 2.1 made them spend all the more on their organizations and sometimes loss of employments.
“The Commission also invited the Chief executive Officers of the distribution companies to the hearing to respond to the case of the consumer groups. Furthermore, the Commission reviewed the technical and financial assumption of MYTO 2.1. The review shows that the major underlying cause of the skyrocketing increase in the tariff is the huge Aggregate Technical, Commercial and Collection (ATC&C) losses, which are passed through to consumers. In some DISCOs ATC&C losses increased tariff by as much as 80-103%. “…
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