The Nigerian Electricity Regulatory Commission on Thursday said it would uphold the court ruling mandating it to reverse the 45 per cent increase in electricity tariffs across the country, six months after implementing the Multi Year Tariff Order 2, which brought about the hike in the tariffs.
A Federal High Court in Ikoyi, Lagos had on Wednesday reversed the 45 per cent increase in electricity tariffs by NERC and the Federal Government in a landmark judgment. The court declared that the increase was illegal and ordered that it should be reversed immediately.
The court held that the implementation of the tariff hike constituted a violation of its interim order, and awarded N50,000 cost against NERC.
This is coming as the power distribution companies said that they had appealed against the Federal High Court ruling and filed for a stay of execution.
The Acting Chief Executive Officer, NERC, Dr. Tony Akah, told our correspondent that after consulting with his legal department, the commission resolved to comply fully with the judgment before considering any other option if necessary.
He said, “We have not obtained the full court ruling so that we can study it and, of course, respect the decisions of the court and evaluate any other option, if necessary. But of course, we have strong respect for the judiciary and we will definitely comply with the ruling before considering any other option that we may decide on.