The Nigerian Electricity Regulatory Commission on Tuesday said the recently reviewed service reflective tariff would attract more investments to the power sector.
Chairman of the commission , Prof . James Momoh, who said this in Abuja during a working visit to the Abuja Electricity Distribution Company, stated that with the tariffs, investors in the sector would be able to recoup their investments .
The NERC introduced an increased service reflective tariff in September this year, which was later adjusted downwards by the Federal Government after protests by labour unions .
The tariffs, which vary according to the number of hours of electricity supplied to a customer , took effect recently after labour and government agreed on its implementation . At the headquarters of the AEDC on Tuesday , Momoh said , “ The gaps that have been identified, especially with respect to tariff , are issues that the entire commission has been having sleepless nights about and working day in and out on.
“ We hope that at the end of the day, the commission will take the credit that it is during our tenure that we are able to ensure that the sector is equipped such that people can come to Nigeria to invest because they can now recover money for their investments . ”