Prof Chinedu Nebo
• To get certificate of ownership next month
•Manufacturers generate 5,150mw
• To get certificate of ownership next month
•Manufacturers generate 5,150mw
Ejiofor Alike and Chineme Okafor
As the federal government shifts the handover date of the assets of the Power Holding Company of Nigeria (PHCN) to the new buyers from October 1 to 2 as a result of the Independent Day anniversary celebration, the successful investors are already demanding for an increase in electricity tariffs.
As the federal government shifts the handover date of the assets of the Power Holding Company of Nigeria (PHCN) to the new buyers from October 1 to 2 as a result of the Independent Day anniversary celebration, the successful investors are already demanding for an increase in electricity tariffs.
However, the Nigerian Electricity Regulatory Commission (NERC) has assured the new investors of getting their certificates of ownership next month.
The assurance is coming as the Manufacturers Association of Nigeria (MAN) has stated that the in-house installed power generating capacity of its members was 5,150 megawatts, translating to an average monthly expenditure of N2 billion on diesel and gas.
Speaking yesterday at the Third Worldstage National Electricity Power Conference 2013 in Lagos, the Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, said the agency had been contending with pressure from the new owners of PHCN assets, adding that one of such demands was for the increase in electricity tariffs.
Amadi, who was represented by the Secretary to NERC, Mrs. Ada Ozoemena, said the investors based their demand on the assumptions made by the commission in the Multi-Year Tariffs (MYTO), which they said was inaccurate.
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