A spike in electricity prices, according to the Institution of Chartered Accountants of Nigeria, would make life much worse for Nigerians, especially Small and Medium Sized Enterprises.

ICAN’s president, Dr. Innocent Okwuosa, recently announced this in a statement.

Eleven energy distribution companies reportedly requested a review of their tariffs in a letter to the government, according to the Nigerian energy Regulatory Commission, or NERC.

Any attempt to raise the price of energy, according to Innocent Okwuosa, will directly harm Nigerians and businesses.

 

He advised President Bola Ahmed Tinubu’s federal government to stall any proposal to hike electricity tariff because Nigerians are still grappling with fuel price increments, forex challenges and many economic woes.

The Senate and House of Assembly had called on NERC to suspend any plans to hike electricity tariffs.