Amid the uncertainty surrounding electricity subsidy in the country, the Minister of Power, Adebayo Adelabu, foresees a shift towards cost-reflective tariffs within the next three years.
The minister, who spoke during a visit to Ikeja Electric in Lagos last Thursday, emphasised the need to align electricity tariffs with the actual cost of generation, distribution and transmission, saying it is pivotal for ensuring the financial viability of the sector and fostering investment for infrastructure development and expansion.
“Over the next three years, we should migrate to a cost reflective tariff; the government cannot continue to subsidise electricity. Despite IE performance, Nigerians are still not happy. They need to heighten their game for more improved performance,” he said. “If we cannot get them to do investment by persuasion we will get them to do it by legislation and that is the need for DisCos to bring in significant funds into the business to invest in improved infrastructure so that service quality would be better than what we have now,” he said.
Although, the rising prices of food items have driven Nigeria’s inflation to 31.70 per cent in February 2024, experts have warned against the creation of a price control board being canvassed by hapless Nigerians, saying toeing that part would worsen the situation. President Bola Tinubu has approved the appointment of Brigadier-General Lawal Ja'afar Isa as Executive Secretary of the National Commission for Almajiri and Out-of-School Children Education. The President has also approved the appointment of Alhaji Tijani Hashim Abbas as Senior Special Assistant to the President on Chieftaincy Matters. General Ja'afar Isa is a respected leader…
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