The Manufacturers Association of Nigeria (MAN) has called on the Nigerian Electricity Regulatory Commission (NERC) to reconsider its recent approval of a 250 percent increase in electricity tariffs for electricity distribution companies (DisCos).
During an interactive session at the 2024 pre-Annual General Meeting (AGM) media briefing held in Lagos, MAN's Director General, Segun Ajayi-Kadir, emphasized that such a drastic hike is unsustainable for manufacturers.
Ajayi-Kadir noted that the association had previously taken legal action against NERC and the DisCos regarding the tariff increase, but a Federal High Court dismissed the case last week for being an abuse of court process.
He urged the government to extend the same financial relief provided to universities and hospitals—specifically, a 50 percent discount—to manufacturers, who play a crucial role in job creation and economic growth.
He stated, “NERC and the DisCos are wrong because they could not have increased the tariff by 250 percent; nobody survives that.”
Ajayi-Kadir expressed concern over the potential impact on businesses, with some members contemplating shutting down operations if relief is not granted.
He also warned that such closures would have severe repercussions for Nigeria's economy.
