Charges imposed by NERC, the Nigerian Electricity Regulatory Commission, on the importation of power generating sets into Nigeria have generated over N900 million between June 2020 and June 2021.
This is according to the data provided by the industry regulator.
Under the scale of charges introduced by NERC in 2013 for obtaining clearance certificate for the importation of generating sets and related matters, 100KVA generator imported into Nigeria attracts a fixed charge of N25, 000 per unit. Generating sets rated between 25VA and 100KVA attract a fixed a charge of N3, 500 per unit. Generators of rating between 5KVA and 25KVA attract a charge of N1, 000 per unit. N250 per unit is set for generators rated between 2.5KVA and 5KVA, while those between 0.45 KVA and 2.5 KVA attract a charge of N150 per unit.
These charges fixed and collected by NERC are exclusive of duties and other taxes paid on the same items by the importers.
Nigeria still relies largely on generating sets to power it’s over $400 billion economy.
Details of the financial position of the NERC showed that in the second quarter (Q2) of 2021, the IGR from fees arising from the importation of generator sets, license processing and licensing fee was N431 million.
