NEWS
Electricity Tariffs To Decrease As Naira Strengthens, Says Minister
The Minister of Power, Adebayo Adelabu, expressed optimism about the potential for a reduction in electricity tariffs for Nigerians due to the recent appreciation of the naira against the US dollar.
During his appearance on Channels Television’s Politics Today program on Thursday, Adelabu emphasized the flexibility of the tariff system and suggested that if the naira continues to strengthen, tariffs could decrease, potentially dropping below the current rate of N225 per kilowatt-hour even for Band A consumers.
He said “The tariff is flexible and I can tell you that even if naira gains more and the exchange rate comes down below N1,000, it must positively affect the tariff and the tariff even for the Band A will come to down below the N225 kilowatt per hour that we are currently charging.”
BIZTETLERS recalls that The Nigerian Electricity Regulatory Commission (NERC) announced a tariff increase for customers classified under Band A, who receive 20 hours of power supply daily, effective April 3, 2024.
This adjustment will see these customers paying N225 per kilowatt-hour, up from the previous rate of N66.
The decision has faced strong criticism from Nigerians due to the suddenness of the hike and the ongoing economic difficulties.
Adelabu said, “The fact that the tariff for Band A, which is 15% of the total consumers will increase by over 200%, does not necessarily translate into 200% increase in their electricity bill if power is properly managed in terms of consumption.”
The minister reassured Band A customers of receiving value for their money and pledged that consumers across other bands wouldn’t be taken advantage of by distribution companies, with regulators prepared to enforce penalties as necessary.
Additionally, he highlighted the government’s efforts to increase power generation from 4,000 to 6,000 megawatts within the next six months.
He noted that 25% of Nigeria’s power generation comes from hydroelectric sources, with the remaining 75% sourced from gas plants.
The minister acknowledged that the insufficient supply of gas, the primary raw material for power generation, has been a challenge.
However, he stated that the government has been collaborating with electricity generation companies to increase power generation for the benefit of Nigerians.
Furthermore, he outlined the President Bola Tinubu administration’s plan to decentralize power generation across the states of the federation and enhance the transmission and distribution infrastructure to support Nigeria’s industrial transformation.
The remains of the late Chief of Army Staff, Lieutenant General Taoreed Lagbaja, have arrived at the National Military Cemetery in Abuja, signaling the start of his burial ceremony according to military protocols.
The body arrived promptly at 3:00 p.m. on November 15, 2024, transported in an ambulance. Following tradition, the casket was received and will be positioned by pallbearers before a moment of silence is observed to honor the late COAS.
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During the ceremony, the Chief of Defence Staff, the Minister of Defence, and President Bola Ahmed Tinubu are expected to deliver tributes highlighting Lt. Gen.
Lagbaja’s contributions to the nation. Afterward, the national flag will be presented to his next of kin, and the casket will be lowered.
Dignitaries, including the Senate President, Speaker of the House of Representatives, and other government officials, will lay wreaths in memory of the late army chief, paying their last respects.
Lt. Gen. Lagbaja is remembered for his service and dedication to the Nigerian Army and the nation. The ceremony underscores the nation’s gratitude for his commitment and leadership.
The Supreme Court has unanimously dismissed a lawsuit challenging the legality of the Economic and Financial Crimes Commission (EFCC) Act, upholding the continued existence of the anti-graft agency.
A seven-man panel of justices, led by Justice Uwani-Abba-Aji, ruled that the case, filed by Attorneys General from several states, was without merit.
READ MORE: Police Recover N2.3m Extorted From Abuja Resident, Officers Detained
The lawsuit, initially filed by the Attorneys General of 16 states, sought the dissolution of the EFCC, which was established to combat corruption in Nigeria.
The states involved in the case included Ondo, Edo, Oyo, Ogun, Nassarawa, Kebbi, Katsina, Sokoto, Jigawa, Enugu, Benue, Anambra, Plateau, Cross-River, and Niger.
As the legal proceedings unfolded, some states withdrew their support, while others joined the case as co-plaintiffs.
Notably, Imo, Bauchi, and Osun states joined the suit on October 22, while Anambra, Ebonyi, and Adamawa states withdrew, leading to the dismissal of their claims by the court.
The ruling strengthens the EFCC’s legal foundation, ensuring the continued operation of the commission in its fight against financial crimes in the country.
The Nigeria Police Force (NPF) has detained officers involved in the alleged extortion of N2.3 million from Mr. Nwosu Ndubuisi in Abuja.
This was disclosed by the Police Public Relations Officer of Zone 7 Command, DSP M.B. Abdulkadir, in a statement shared on X (formerly Twitter).
The extorted sum has been recovered and returned to the victim, with disciplinary proceedings initiated against the implicated officers.
The statement read, “Further to the earlier statement issued on the alleged extortion of one Mr. Ndubuisi Nwosu by some officers of Zone 7 Headquarters, Abuja, investigation was carried out, the officers allegedly involved in the extortion have been identified and detained, while disciplinary proceedings have commenced against them.
“The sum of N2.3m has been recovered and returned to Mr. Ndubuisi Nwosu.”
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The Assistant Inspector-General of Police overseeing Zone 7 Headquarters, Abuja, AIG Benneth C. Igweh, assured the public that the disciplinary process would be transparent, in line with the accountability standards of the Inspector General of Police, Olukayode Egbetokun.
Igweh emphasised, “The zone will update members of the public on the outcome of the disciplinary proceedings against the defaulters. Zone 7 headquarters remains steadfast in its commitment to upholding the rule of law, public safety, security and its mandate of protecting lives and properties.”
The incident was initially reported by X user Harrison Gwamnishu (#HarrisonBbi18), who revealed that the officers coerced Ndubuisi into selling his laptop at Banex Plaza to pay for bail. Following this revelation, AIG Igweh ordered an investigation into the matter, leading to swift action.
This development highlights the commitment of the Nigerian Police Force to addressing misconduct within its ranks and ensuring justice for victims.
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