Is FG Planning to Increase Electricity Tariff Again? Read What Fayose is Saying

Discussion in 'News > Local' started by Small6ter, Jan 11, 2017.

  1. Small6ter

    Small6ter www.6ters.com Trusted

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    A former governor of Lagos, Raji Fashola has played down reports of another increment in electricity tariff.

    [​IMG]
    Babatunde Raji Fashola

    The Federal Government has said that it will not approve a fresh electricity tariff hike at least for now, stating that it is still meeting with stakeholders in the country’s electricity sector, including the World Bank to provide some level of interventions to the market.

    Speaking on Monday in a Channels Television Talk Show, Sunrise Daily, which was monitored in Abuja, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, said the government was meeting with the World Bank to find solutions to the financial challenges of the power sector.

    Fashola by this, confirmed a THISDAY report in December 2016 that the government and the World Bank had initiated efforts to bail the country’s power sector from the existing liquidity challenges threatening its survival.

    Also, the Nigerian Electricity Regulatory Commission (NERC) is expected to, this month, announce new cost-reflective electricity rates to reflect current operational indices in the industry.

    Statutorily, NERC undertakes periodic ******s of the tariff to factor in changes in operational indices like foreign exchange and inflation rates, price of gas for power, as well as changes in generation capacities.

    Fashola, however, said that if the government’s deliberations with the World Bank on the financial challenges of the market end well, Nigerians would be protected from a possible electricity price hike.

    He said: “Government still has to deal with how to stabilise the value of the naira to the dollar, and again that will be impacted by how much money we get from oil production, which is still our major foreign income earner. We have used our leverage in OPEC to get OPEC to agree to a production cut, which heralded a price rise but can we as a protagonist take advantage of this by stopping to fight?

    “People must be clear that if government accepts the recommendations that we will make to intervene, it is not to give the Discos a golden parachute, but first to protect citizens from price hike in terms of power for now and also to keep the subsectors so that they don’t lose their businesses.”
     
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  2. Eyor1

    Eyor1 Addict Verified

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    Is anything bad too hard for Buhari to do?
    He likes it when the populace suffers.
    Na people weh vote am into power naim I go blame and not the visionless man himself.
    Make him time do elapse jorh make I see better person ascend that seat of power.
     
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  3. Amara

    Amara Addict Trusted

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    Hahahahaha... The first part of your comment got me in stitches.
     
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  4. Amara

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    The Minister of Power isn't telling us anything new, no matter how he tries to put on a spin on it about the hike hinging on World Bank deliberations, we all know an electricity hike is afoot.
    All I know is no matter what they throw at us, we shall overcome the hardship of this administration has thrown and keeps throwing at us.
     
  5. Eyor1

    Eyor1 Addict Verified

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    Omehn, asides physical malhandling, a military government is far mmore preferable than this Buhari led crisis filled administration.
    The guy nah f00l weh no deh think of the plight of him people.... his ministers and also a other portfolio holders are not trying either because they do not lead him to reality.
     
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