President Tinubu has taken a significant step by halting the planned increase in electricity tariffs and advocating for nationwide power subsidies, as disclosed by Minister of Power, Adebayo Adelabu. This decision comes amid discussions about implementing a cost-reflective tariff, which would result in higher electricity costs for consumers.
Minister Adelabu highlighted the sensitivity of the power sector, emphasizing that an abrupt shift to cost-reflective tariffs could be challenging. He also pointed out that the government continues to subsidize electricity, and tariff adjustments were delayed to coincide with improved power supply.
Adelabu clarified that while cost-reflective tariffs were due for implementation earlier, various economic challenges, including the removal of fuel subsidies and rising inflation, made it politically and socially unwise to increase electricity costs at this time. He revealed that a substantial gap exists between the intended cost-reflective tariff and the current tariff, with the government bridging this gap through subsidies.
While the delay in implementing cost-reflective tariffs has put pressure on the power sector’s finances, the President remains steadfast in keeping electricity rates unchanged for the time being. This decision is seen as a measure to alleviate the economic burdens facing the nation’s citizens.
The Zamfara State Government and the state chapters of the National Labour Congress (NLC) and…
In the ongoing dispute regarding the implementation of the ₦70,000 national minimum wage, Zamfara State…
The Cross River State Government and Organised Labour have reached an agreement on the implementation…
The Abia State Government has strongly refuted claims by the Nigeria Labour Congress (NLC) that…
The Nigeria Labour Congress (NLC) Sokoto State Chapter has assured local government staff and primary…
The Ondo State chapter of the Nigeria Labour Congress (NLC) has assured government workers that…