The Nigerian Electricity Regulatory Commission (NERC), has restated the new electricity pricing regime contained in its Multi-Year Tariff Order 2 (MYTO-2) was specifically designed to enthrone efficiency and good governance in the Nigerian Electricity Supply Industry (NESI), calling on stakeholders not to oppose it.

Chairman of the Commission, Dr. Sam Amadi, stated this yesterday in Abuja at a stakeholders' roundtable on power sector reform while urging civil society organisations to refrain from opposing the new tariff, saying the increase was only a component of the power sector reform and not an end in itself.

He emphasised that it was unfortunate that the new price regime has been described by Nigerians as an outrageous price hike, explaining that the tariff hike is not like the fuel price increase, but a well calibrated price.

Amadi appealed to Nigerians to understand that the tariff is cost efficient and that there is need for them to support the fight against corruption in the sector to allow for efficiency.