The Manufacturers Association of Nigeria, MAN, today warned against the negative consequences of the proposed increase in tariff by DisCos.
It further warned that if urgent steps were not taken to halt the proposed tariff hike, it would have a negative effect on the country’s economy.
You will recall that the distribution company of Nigeria has planned an increased tariff with effect from July 1, 2023.
However, in a statement by the Director General of MAN, Mr. Segun Ajayi-Kadir, he said manufacturing cost increased by 87% due to the cost of access to alternative energy sources by manufacturers within a year.
According to the statement, in the last 8years, electricity tariff has been increased by 186%.
He affirmed that the fact that the government itself owed N75 billion in unpaid electricity bills was indicative of how burdensome the cost of electricity had become.
In an interview with our correspondent, Chioma Innocent, Legal practitioner and public affairs analyst, Barrister Joe Nwokedi breaks doow the effects of such increase on the Nigerian economy
