The federal government has approved the resumption of the collection of Service-Based electricity Tariffs (SBT) from next week, after sealing a deal with organised labour.
The government was forced to suspend the implementation of the new electricity tariff regime in September, following a threat of industrial unrest by the Nigeria Labour Congress (NLC), its affiliates and allies.
However, the federal government and organised labour have resolved that the tariffs for certain categories of power consumers should be reviewed downward.
While the tariffs for customers in A and B bands were reduced by 10 per cent, the tariff for C band customers was reduced by 30 per cent.
For customers in the D and E bands, their tariffs remain frozen, which implies that there is no increment.
The Special Adviser on Infrastructure to President Muhammadu Buhari, Mr Ahmad Zakari, who confirmed this yesterday during the 51st virtual Power Dialogue organised by Nigeria Electricity Hub in Abuja, noted that since labour has accepted the new terms, the implementation will begin next week.
Zakari said the electricity market in the country will collapse if the government allows it to continue the way it has always been run, adding that the intention of the government is to transit to a market-based regime, where the demand and supply will determine prices.