- It is the FG’s duty to implement a successful tariff
- Nigerians are willing to pay a cost-reflective tariff where supply is constant and reliable
The World Bank Country Director for Nigeria, Shubham Chaudhuri has stated that the responsibility for a successful tariff implementation lies with the Federal Government (FG). Chaudhuri stated this at the just concluded 27th National Economic Summit titled, ‘Lighting Nigeria: A solutions Framework for Power Recovery’.
Speaking at the Summit, Chaudhuri stated that, if electricity supply is constant and reliable, Nigerians are willing to pay a Cost-Reflective Tariff (CRT) for electricty consumed.
”The average Nigerians are willing to pay for power if it is reliable.” Chaudhuri said. Chaudhuri noted that the private sector can provide stable electricity for consumers, however, for investments to occur, a cost reflective tariff needs to be in place.
”The private investment will provide the kind of electricity Nigerians desire but the government will play the role of policy and regulatory clarity,” he noted.
Also speaking at the Summit, the Director-General Budget Office of the Federation, Ben Akabueze, to implement a CRT, Nigeria must attain a fiscal sustainability in the sector.
”We must work towards achieving fiscal sustainability in this sector, but we should aim to achieve in this forum that the regressive tariff on power must come to an end in 2022.”, Akabueze said.