Following the court ruling that the Nigerian Electricity Regulatory Commission should reverse the 45 per cent increase in electricity tariff across the country, the commission has directed its lawyers to file an appeal.
This was announced on Friday, July 15 during a press briefing that was held at its headquarters in Abuja.
On Wednesday, a Federal High Court in Ikoyi, Lagos had reversed the 45 per cent increase of electricity tariff by the NERC and the Federal Government.
The court declared the hike in tariff as illegal and directed that it should be reversed immediately.
The Acting Chief Executive Officer, NERC, Dr. Tony Akah, however, said the commission was dissatisfied with the judgement.
“The commission respects this decision of the court but we are dissatisfied because it represents the reversal of the commercial foundation upon which contracts for gas, hydro, coal and solar feedstock for the production of electricity have been predicated.”
“This judgment, in our view, is a setback to the progress made so far in the electricity sector. Therefore, we challenge this decision. We have instructed our lawyer to appeal. Consequently, the commission has filed for stay of execution and a notice of appeal of the judgement yesterday.”
“Therefore we ask investors, as well as customers in the electricity market not to panic as we seek a resolution within the ambit of the established laws.”
“The commission remains committed to continuously provide the right regulatory framework that would promote private sector investment in the electricity supply industry and also protect the interests of electricity customers as enshrined in the Electric Power Sector Reform Act 2005.”