No Result
View All Result
Sunday, May 29, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Nigeria: Why We’re Insisting On 45 Percent Electricity Tariff Hike – NERC

bycitibusinessnews
July 18, 2016
in Africa, Top Stories, West Africa
Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

The Nigerian Electricity Regulatory Commission (NERC) has given reasons why it rejects last Wednesday’s order by the Federal High Court, Lagos declaring as illegal the February 1, 2016 electricity tariff.

Justice Mohammed Idris had ordered the electricity sector regulatory agency to immediately rescind the multi-year tariff order (MYTO), as the process that led to a 45 per cent hike in electricity charges was illegal.

But, the acting chairman of the commission, Anthony Akah, described the court order as “a major setback to the progress made so far in the electricity sector”.

Mr. Akah, who was speaking in Abuja in his first official reaction to the court order on Friday, said although the commission respected the decision, it would challenge it.

“This judgment, in our view, represents the reversal of the commercial foundation upon which contracts for gas, hydro, coal and solar feed-stocks for the production of electricity were predicated,” he said.

“It also extends to other service improvement contracts entered into by the operators for the development of electricity sector and the ultimate improvement in the quality of service delivery to consumers.”

Mr. Akah said the commission had already instructed its lawyers to file for a stay-of-execution of the order, while a notice of appeal of the judgment had been issued.

The NERC chairman said the commission reserved the right to explore other legal avenues within the law to challenge the decision.

Urging investors and customers not to panic as the commission sought a resolution to the issues, Mr. Akah said NERC remained committed to the provision of the right regulatory framework to promote private investment in the electricity supply industry.

“We are going to study the full judgment, and based on the interpretations in it, would react appropriately. The electricity sector is a very complex industry which thrives on regulatory certainty.

“The MYTO 2015, which the court order declared illegal, provided a long-term pact to prospective investors to determine in advance what the tariffs would be, Based on it, a lot of improvement and progress in the sector were recorded, because most people based their investment decisions on it.”

–

Credit: All Africa

Related Posts

Business

6th Ghana CEO Summit to focus on digital leadership for the digital economy

byBenjamin Aklama

Its is Monday the 30th of May, 2022. All roads lead to Kempinski Hotel Gold Coast City in Accra for...

Read more

We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

COCOBOD closes purchases for 2021/2022 main crop cocoa season

Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

BoG urged African DFIs to enhance credit rating positions to boost investment

Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

Next Post

Kenya:Consumers face expensive sugar as millers start raising prices

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.