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Nigerian govt approves electricity tariff increase, says subsidy to gulp N1.6tn in 2024
The federal government, through the Nigerian Electricity Regulatory Commission, NERC, has approved a new cost-reflective tariff increase for the electricity distribution companies in Nigeria.
This is as the commission stated that the electricity subsidy will gulp N1.6 trillion in 2024.
NERC disclosed this in a Multi-Year Tariff Order for DisCos uploaded on its official website on Wednesday.
The commission said the new MYTO for DisCos takes effect from January 1 2024.
Meanwhile, the Chairman of NERC, Sanusi Garba, who explained the development to journalists in Abuja on Wednesday, said the federal government would spend 30 billion monthly, amounting to N1.6 trillion, on electricity subsidies in 2024.
The implication is that for any N150 electricity bill, the federal government will pay N90 while consumers will bear the remaining fraction.
Enugu Electricity Distribution Company, EEDC, will get N128.92bn, Abuja Electricity Distribution Company (N223.26 billion), Yola Electricity Distribution Company (N64.48 billion), Benin Electricity Distribution Company (N140.85 billion), Ibadan Electricity Distribution Company (N199.841 billion), the Eko Electricity Distribution Company (N198.78 billion) and Ikeja Electricity Distribution (N238.201 billion).
NERC stated that electricity tariff adjustments would be made monthly to avoid rate hike shock.
“If we have determined that you should be paying N150 and the Federal Government says you should pay N60, it will pay the difference. Then that is what it is, and the government would now provide the money.
“One of the new things in tariff order is, to avoid rate shock, we will now be doing the minor tariff review very frequently, like every month,’’ he said.
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BREAKING: EFCC operatives storm Kogi Governor’s Lodge in search of Yahaya Bello
Operatives of the Economic and Financial Crimes Commission, EFCC, laid siege at the Kogi Government Lodge, Asokoro, on Wednesday night in an attempt to forcefully arrest former Governor Yahaya Bello.
A statement issued by Bello’s Director of Media, Ohiare Michael, said EFCC operatives were shooting sporadically.
Michael, while condemning the attack, urged Nigerians to hold EFCC responsible if anything happens to Bello.
The statement reads: “It has come to our notice that people suspected to be operatives of the Economic and Financial Crimes Commission are currently around the Kogi Government Lodge, Asokoro, in an attempt to forcefully arrest former Governor Yahaya Bello. They were shooting sporadically.
“We want to place it on record that the EFCC should be held accountable if anything untoward happens to him.
“Tonight’s attack was needless, as the former governor made himself available to the EFCC in their office for interrogation. The EFCC had no questions to ask Alh. Yahaya Bello in the morning, but suddenly, they are out to arrest him.
“This action is condemnable. They have displayed the very reason many Nigerians believe they were fighting political battles instead of the mandate to fight corruption. This action reflects much more than the fight against corruption. We will keep Nigerians posted.”
In a swift reaction to earlier statement by Bello’s media team, the EFCC said the former governor was not in its custody and remains wanted.
EFCC spokesman Dele Oyewale said the ex-governor remains wanted “for alleged N80.2 billion money laundering charges”.
“Media reports today that a former Governor of Kogi State, Mr. Yahaya Bello is in the holding facility of the Economic and Financial Crimes Commission, EFCC, is incorrect. The Commission wishes to state that Bello is not in its custody.
“Bello, already declared wanted by the Commission for alleged N80.2billion money laundering charges, remains wanted with a subsisting warrant for his arrest,” Oyewale said.
Following up with his earlier statement, Ohiare Michael released another statement maintaining that Bello honoured the invitation of the anti-graft agency but was asked to leave by officials without interrogation.
According to him, the former governor was accompanied to the EFCC office by his successor, Usman Ododo.
“We reiterated the former Governor’s great respect for the rule of law and constituted authority, and stressed that, all the while, he only sought the enforcement of his fundamental rights to ensure due process.
“The EFCC did not interrogate him as officials told him he could leave. We don’t know what this means yet. As we write, HE Alhaji Yahaya Bello has left the EFCC office. He was accompanied there by the Governor of Kogi State, HE Alhaji Ahmed Usman Ododo,” the statement read in part.
Bello was sued by the EFCC on a 19-count charge of alleged money laundering to the tune of ₦80bn.
However, Bello has consistently refused to honour EFCC’s invitations for questioning and has consistently boycotted court trials.
His case was recently adjourned by Justice Emeka Nwite of the Federal High Court Abuja to September 25.
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BREAKING: Ex-Kogi Gov, Yahaya Bello, finally surrenders self to EFCC invitation after 5 months
Former Kogi Governor Yahaya Bello has agreed to honour the invitation of the Economic and Financial Crimes Commission (EFCC) over alleged N80.2bn fraud.
A statement by the Director, Yahaya Bello Media Office, Ohiare Michael on Wednesday, said Bello has honoured the invitation of the EFCC “after due consultations with his family, legal team and political allies.”
The statement said, “The former Governor, who has great respect for the rule of law and constituted authority, had, all the while, only sought the enforcement of his fundamental rights in order to ensure due process.
“The case has been before a competent court of jurisdiction, and Alhaji Yahaya Bello had been duly represented by his legal team at every hearing. It is important for the former Governor to now honour the invitation of the EFCC to clear his name as he has nothing to hide and nothing to fear.
“The former Governor believes firmly in the efforts of the administration of President Bola Ahmed Tinubu to place Nigeria on the path of sustainable economic development; and supports the fight against corruption in the country.
“It is on record that he was the first Governor of Kogi State to put in place an anti-corruption mechanism to check graft and ensure that the resources of the State work for the people of the State.”
Michael said Yahaya was accompanied to the EFCC Headquarters by high-profiled Nigerians.
“It is our hope that the Commission will be as professional as necessary and respect his fundamental rights as a citizen of the Federal Republic of Nigeria.
“Details of his engagement with the operatives of the Anti-Graft Agency will be disclosed later,” the statement added.
“He was accompanied to the EFCC Headquarters by high profile Nigerians. It is our hope that the Commission will be as professional as necessary and respect his fundamental rights as a citizen of the Federal Republic of Nigeria. Details of his engagement with the operatives of the Anti-Graft Agency will be disclosed later.”
The move was coming after Justice Emeka Nwite of the Federal High Court Abuja adjourned proceedings on the alleged money laundering case instituted by the EFCC against Bello to September 25.
It would be recalled that Bello was sued by the EFCC on a 19-count charge of alleged money laundering to the tune of ₦80bn.
However, Bello has consistently refused to honour EFCC’s invitations for questioning, and has consistently boycotted court trials.
The EFCC was compelled to declare him wanted in a public notice that trended widely.
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Abdulsalami To Tinubu: Hardship in Nigeria getting out of control, palliatives not solution
Former Head of State, General Abdulsalami Abubakar, has lamented the acute hunger, hardship and the worsening economic conditions in the country, saying that the situation is “getting out of control.”
Abubakar raised the alarm while hosting the leadership of the Campaign for Democracy and Human Rights, led by Abdullahi Mohammed Jabi, at his uphill residence in Minna, Niger State, on Tuesday.
He highlighted the struggles of many Nigerians in meeting basic needs such as food and transportation.
“Everyone is complaining about the hardship, and it seems to be getting out of control. People can’t afford three square meals.
“The rise in transportation costs, fuel prices, school fees, and the lack of money in people’s pockets is making life unbearable,” he stated.
He revealed that he was part of a forum that submitted three recommendations to the federal government on how to address the economic crisis, stressing that providing palliatives was not a sustainable solution to the rising prices of food and other commodities.
He suggested that the government intervene by purchasing essential food items and selling them at lower prices to make them more affordable.
“The government should flood communities with food, buy and sell at reduced prices, allowing people to purchase based on their income levels,” he proposed.
Abubakar also called for peaceful protests in light of the upcoming #EndBadGovernance demonstration on October 1, recalling the violence and looting that accompanied previous protests.
He lamented, “During the last protest, we witnessed needless destruction, theft, and criminal activity. Instead of peaceful protests, people resorted to looting private homes, causing unnecessary harm.”
Earlier, Abdullahi Jabi, leader of the visiting delegation, expressed his congratulations to Abubakar on his recent birthday and wished him long life and good health.
He also urged the elder statesman to appeal to the federal government to address the economic crisis and lend support to the organisation’s initiatives.
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