World Bank Caution Nigeria Against Raising Electric Tariffs

The World Bank has cautioned Nigeria and other emerging economies against
raising electricity tariffs.

The bank, in its latest Commodity Markets Outlook forecast, argued that such steps will push inflation in 2022, adding that prices of electricity, which peaked at 80
percent this year compared to 2020, will remain high next year.

It, however said, prices will start to decline in the second half of the year as supply
constraints ease.

It said global inflationary pressures and potentially shifting economic growth to
energy-exporting countries from energy-importing ones will define the new year.
Ayhan Kose, Chief Economist and Director of the Worl
Bank’s Prospects Group, said the surge in energy price