The Institution of Chartered Accountants of Nigeria (ICAN) has issued a stern warning that an increase in electricity tariffs will only exacerbate the suffering of Nigerians, particularly Small and Medium Enterprises (SMEs). Dr. Innocent Okwuosa, the President of ICAN, conveyed this message in a recent statement.
Recent developments saw the Nigerian Electricity Regulatory Commission (NERC) revealing that eleven electricity distribution companies requested a review of tariffs from the government.
Dr. Okwuosa strongly emphasized that any decision to raise electricity tariffs will directly impact businesses and the Nigerian populace.
He urged President Bola Ahmed Tinubu’s federal government to reject any proposals for tariff hikes, citing the ongoing challenges faced by Nigerians due to rising fuel prices, forex issues, and various economic woes.
Both the Senate and the House of Assembly have called on NERC to halt any plans for increasing electricity tariffs, showing concern for the welfare of the people and businesses grappling with economic hardships…[CONTINUE READING HERE]>>
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