The Nigerian Electricity Regulatory Commission – NERC has issued regulations on the procedure for tariff reviews.

The latest order, signed by NERC Chairman, SANUSI GARBA, stated that pursuant to the provisions of the Electricity Act 2023, the commission is obligated to review and approve a fair tariff to allow licensees to recover prudent costs and a reasonable return on capital invested in the business for the provision of electricity services.

The regulator said an initial review of the applications shall be completed and a consultation paper developed no later than 90 days after the deadline for the submission of the applications.