Prof. James Momoh, Chairman, Nigeria Electricity Regulatory Commission (NERC) said this when the ad hoc Technical Committee on Electricity Tariff submitted its interim report at a reconvene bilateral meeting between Federal Government and Organised Labour on Monday in Abuja.
The new tariff was earlier suspended for two weeks and ended at midnight on Oct. 11, when the organised labour suspended the planned industrial action over agitation on the hike in electricity tariff on Sept. 28.,
It would also be recalled that the the committee which was Chaired by Mr Festus Keyamo, Minister of State for Labour is to examine the justifications for the new policy in view of the need for the validation of the basis for the new cost reflective tariff.
It was also agreed that while the committee carries the justification that electricity tariff should be reduced for two weeks. Momoh while speaking, said the one week extension new tariff said was to enable the committee to review and work out modalities for the implementation of the agreement reached on the electricity tariffs structure.
Sen. Chris Ngige, Minister of Labour and Employment, while reading a resolution reached between the Federal Government, Organised Labour and the Ad Hoc Technical Committee on Electricity Tariff said that adoption of the work plan for effecting the resolutions has been reached.
Ngige said the resolutions adopted would be implemented by all stakeholders within the week by Sunday, Oct. 18. According to him, the following amendments to the resolutions were adopted include, phase one immediate reliefs.