The Manufacturers Association of Nigeria (MAN) has once again urged the Nigerian Electricity Regulatory Commission (NERC) to reconsider the recent electricity tariff increase, which has risen by approximately 250%.
Segun Ajayi-Kadir, Director General of MAN, expressed concerns about the significant impact this tariff hike has on manufacturers’ operations. He argued that such a substantial increase is unsustainable and could threaten the survival of many businesses.
Ajayi-Kadir highlighted the recent legal challenge MAN filed against NERC and the DisCos over the tariff hike, which was unfortunately struck out by a Federal High Court. Despite this setback, MAN remains committed to advocating for a more reasonable tariff structure.
The MAN DG called for the government to extend the same consideration given to universities and hospitals, which have received a 50% discount on their electricity tariffs. He emphasized that manufacturers play a crucial role in the economy by creating jobs, paying taxes, and contributing to export growth.
Ajayi-Kadir expressed the growing frustration and concern among MAN members regarding the impact of the tariff hike on their businesses. Some members have even considered shutting down their operations due to the financial strain.
The MAN’s stance on the electricity tariff increase underscores the urgent need for a review of the current pricing structure. A more reasonable tariff would alleviate the burden on manufacturers and promote a more sustainable and competitive business environment in Nigeria.
