The Igbo Bu Igbo Sociocultural Foundation, has rejected the new electricity tariff proposed by the Nigerian Electricity Regulatory Commission (NERC).
In a statement signed by the President, Dr. Law Mefor, and Secretary General, Chidi Omeje, the organization described the privatisation in the power sector as fraud and a sham.
It lamented that the new electricity tariff for the South East is the highest in the country despite the relative small land mass of the zone, few industries and near absence of Federal Government presence.
The statement said: “All factors and indices considered, the electricity tariff for the South East is arbitrarily fixed. The figures, compared to other zones, is not only insensitive and illogical but also provocative and criminal.
“The Federal Government has bailed out the power sector at least twice without the so-called investors making any meaningful financial investments in the sector.
“To balance their sheets and smile to the bank, they transfer their whole burden to the already over taxed Nigerians who are forced to purchase their own transformers and other materials needed for power.
“Fixed charges are collected from Nigerians even for periods they receive no electricity supply with government doing nothing about it.
“We are equally aware that DISCOs often deliberately refuse to pick up stranded electricity generated since they have access to free money from stranded Nigerians.
“Igbo bu Igbo is also aware of the replacement of stand-alone prepaid meters with dubious Smart meters and more worrisome is why this opaque practice applies only to the Southeast
“NERC should note that it has grossly disappointed Nigerians for failing to provide governance, supervision, enforcement and protection of citizens from the criminal excesses of GENCOs and DISCOs.
“The Federal Government needs to take another look at the whole exercise with a view to possibly reverse the entire exercise for value creation and humane pricing.
“Igbo Bu Igbo will not hesitate to drag NERC and EEDC to court if the outrageous new tariffs especially for the Southeast is not rescinded,” the statement concluded.
