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news you can trust I **tuesDAY 14 may 2019 I vol. 15, no 309 I N300
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Nigeria misses 6 electricity tariff reviews as current prices become obsolete Fair market price at N57.40 per kilowatt hour
ISAAC ANYAOGU & STEPHEN ONYEKWELU
S
ince the power sector privatisation in 2013, the Nigerian Electricity Regulatory Commission (NERC) has failed to review electricity pricing six times under the Multi
President Muhammadu Buhari (r) congratulating Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), on his reappointment as head of the apex bank for a second tenure, during his visit to the President in Abuja.
Year Tariff Order (MYTO) it instituted to price electricity, a failure that has fuelled illiquidity in the sector and caused shortfalls of nearly N1.4 trillion. According to the MYTO Rules, there would be a 15-year tariff path for the Nigerian Electricity Supply
Industry (NERSI) with limited minor reviews each year in light of changes in a limited number of parameters (such as inflation, interest rates, exchange rates and generation capacity) and major reviews every five Continues on page 34
Market
Spot ($/N)
I&E FX Window CBN Official Rate Currency Futures
($/N)
fgn bonds
Treasury bills
360.83 306.95
3M
6M
-0.34 11.27
NGUS jul 24 2019 361.06
5Y 0.00
-0.15 13.13
14.44
NGUS oct 30 2019 361.51
@
g
10 Y 0.07
20 Y 0.00
14.29
14.19
NGUS apr 29 2020 362.41
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MARKETS
What rising geo-political tensions mean for Nigeria LOLADE AKINMURELE
N
igeria is caught in the middle of an escalating global trade war and mounting tensions in the Middle-East, both holding big implications for Africa’s largest Continues on page 34
Inside Jumia records momentum in Q1 as marketplace revenue up 102% P. 2