FG plans fresh electricity tariff review for Band B, C customers

The Federal Government has announced its intention to review electricity tariffs to address pricing imbalances and foster greater investment in the energy sector.

Minister of Power, Adebayo Adelabu, shared this development on Thursday in Abuja during the public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan.

Adelabu explained that the decision stems from the sluggish transition of customers to Band A, a situation he attributed to the reluctance of Distribution Companies (DisCos) to invest in infrastructure improvements.

Currently, Band B consumers, who receive 17 to 18 hours of electricity daily, are charged N63 per kilowatt-hour. Meanwhile, Band A customers, who get just two additional hours of supply, pay a significantly higher rate of N209 per kilowatt-hour.

Describing this discrepancy as unfair, Adelabu emphasized the need to balance tariffs more equitably.

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“We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted,” he clarified. “We are going to look at it and see how we can improve upon our modest achievement of last year, not only to ensure that we grow the sector that we need but also to ensure that we can invest more in revamping all these dilapidated infrastructures.”

The minister emphasized that the pace of migration to Band A has been slower than expected due to the DisCos’ failure to make necessary investments.

“The migration to Band A should have been faster, but we found out that the DisCos refuse to invest. They have refused to invest in this sector,” Adelabu said.

He stressed the importance of significant investment to speed up the transition of lower-band consumers to Band A, adding that the government is exploring adjustments to the tariff structure to reduce the stark price gap between bands.

“The gap between the Band A tariffs and Bands B, C, D, and E is just too wide,” he stated. “We believe it’s not fair. It is not just, and we must be able to carry out some level of regularisation.”

Adelabu reassured the public that while a review is necessary, it does not automatically mean tariffs will increase

FG plans fresh electricity tariff review for Band B, C customers

Dangote Refinery reduces petrol price to N825/litre

Dangote Petroleum Refinery has announced a slash in its ex-depot price of petrol from N890 to N825 per litre.

It is the second time within this month that that the refinery is reducing its petrol price.

The latest drop of N65 per litre follows an earlier N60 reduction on February 1, 2025.

A statement from the refinery stated that the ex-depot price had dropped from N950 per litre in January to N825 per litre, marking a total reduction of N125 per litre in 26 days.

“This recent price reduction will ensure that Nigerians pay between N860 and N865 per litre for petrol at the pump in Lagos,” the company stated.

The refinery, Africa’s first privately owned petroleum processing plant, which has a 650,000 barrels-per-day capacity, announced that the new pricing would take effect from Thursday, February 27.

It added that it was aimed to provide economic relief for Nigerians.

“This strategic price adjustment is intended to ease the financial burden on Nigerians, particularly in anticipation of the Ramadan season, while also supporting President Bola Ahmed Tinubu’s economic recovery initiatives,” the statement read.

The company emphasized that Dangote Petroleum Refinery had consistently lowered petrol and other refined product prices to benefit Nigerians.

Dangote Refinery promised that its high-quality fuel would remain widely available across the country through its key distribution partners—MRS Holdings, AP (Ardova Petroleum), and Heyden—at competitive prices.

Kojo Motors dedicates Yutong Luxury Coach Award to Customers,praises product quality

…says assembly plant in Nigeria ready soon

Kojo Motors is thrilled by the recognition of its outstanding operation being delivered through the Yutong brand of luxury buses.

The company received the Luxury Coach of the Year award given to its chosen Yutong brand at the last NAJA Awards 2024 held in Victoria Island, Lagos.

Kojo attributed the award to its loyal customers and the product quality, promising that passengers travelling with the luxury coach buses in Nigeria and other African countries are guaranteed of exciting time for many years to come with the the Yutong brand.

The Nigeria Auto Journalists Association (NAJA) Awards is an annual event organised by journalists in the print, electronic and online media platforms covering the automotive industry.

Founder/Chairman of Kojo Motors Nigeria Limited, Ikenna Oguegbu, said that the award was a clear testimony to the product quality of the Yutong brand and as a leader in that segment globally.

The Kojo Motors CEO thanked the company’s ever loyal transport companies for their patronage and acceptance of the brands with a promise to continually create more value in the automobile industry in Nigeria.

“There can’t a better way to end the business year 2024 than with this prestigious award despite teething business challenges of the year, and more importantly that the award came from a very credible stakeholder like the automotive media.”

Some of the many transport companies that have the Yutong luxury coach and other models are Chisco Transport, GUO, Ekeson while Edison Transport has over 50 units of the 12-metre sizes.

Other transport operators enjoying returns on investment by using the Yutong buses are Ifesinachi, Ifeanyi Chukwu with new customers such as Libra Motors, Bonny Way Okeyson, the Nigerian Customs and Delta line.

Also reacting to the award, Damien Li, head of Nigerian representative of Yutong Automotive group in China, said, “First of all, thanks to the Nigerian Automotive Journalists for this.

“This award is a recognition of Yutong luxury passenger buses, which is also the choice of customers and passengers, and we believe that this choice is correct and worthwhile.

“This award is also heavy, because it is a responsibility, and we need to provide better products and services to our customers with a more responsible attitude.”

Responding on what the future business of Yutong brand in Nigeria, he declared that the country is important to the automaker, having a population of over 200 million people and one of the largest economies in Africa, with a large demand and huge potential for automotive market.

Since Yutong entered Nigeria in 2008, the flourishing automaker has supplied more than 1,400 buses into the market, such as luxury buses, city buses, school buses and commuter buses, etc., with power types including pure electric, CNG and diesel version.

Li said, “After the removal of the fuel subsidy, we predicted a significant increase in both public and long-distance passenger transport.

“Nigeria has always been one of the important markets for Yutong, which not only focuses on providing comfortable and durable long-distance luxury buses, but is also committed to the promotion of urban buses under the president’s initiative for the future of clean energy CNG public transportation.”

He promised that Yutong would always develop vehicles suitable for Nigeria.

“We are also working with local partners to explore local assembly methods to develop more talent for the Nigerian automotive industry.

“Together, we will provide a full range of solutions for people’s mobility and contribute to public transportation in the Nigerian market,” he stated.

Answering questions on why would a customer should choose Yutong over other competing luxury buses, Li thanked customers for their recognition of the Yutong brand and the affirmation of the automaker’s products and service.

He declared that the market is fair and open, adding that people would always want quality products including the ZK6128H model that is Yutong’s new star luxury coach in Africa.

The model is known for its comfort and durability, which can not only give passengers a better riding experience, but also make operators more worry-free with stability and durability.

In addition to the product quality, after-sales service is also an advantage of Yutong.

Yutong’s engineers uphold a responsible attitude, shuttle to different places in Nigeria to support its customers.

“The fair and open market environment allows Yutong products to be seen by more customers, and will live up to expectations and continue to bring more customized products to Nigerian customers”.

On Yutong’s long-term commitment to the Nigerian market, he emphasised that

Nigeria has always been one of the important markets for Yutong, which not only focuses on providing comfortable and durable long-distance luxury buses, but is also committed to the promotion of urban buses under the President Bola Ahmed Tinubu’s initiative for the future of clean energy CNG public transportation.

According to him, Yutong’s vision is not only to provide high-quality products and services, but also to work with local partners to contribute to the development of Nigeria’s automotive industry.