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Tariff HIKE: NERC awaits President’s approval, plans stakeholders meeting

Published

2 years ago

June 29, 2023

NERC

Tariff HIKE: NERC awaits President’s approval, plans stakeholders meeting

The Nigerian Electricity Regulatory Commission, NERC, is awaiting the approval of President Bola Tinubu before a new tariff regime is made public.

The review of the Multi-Year Tariff Order, MYTO, which happens twice a year, is expected to lead to a rate increase following the devaluation of the Naira with the flotation of the national currency.

An impeccable source at the Commission told Vanguard, yesterday that the review has been concluded and the result sent to the President for approval. The source who declined to be named said “Everything is ready.

By Friday this week, we will know if this increase will happen on July 1 or August 1, as some people have suggested.

“The truth is that the increase will happen, if not the government will have to pay for the shortfall. I don’t think there is a budget for it and without the increase, the industry will struggle to survive”, the source added. Providing more insight, he disclosed that a stakeholder meeting involving the Commission, operators and consumers has been scheduled for Monday and Tuesday next week where all issues arising from the tariff hike will be discussed.

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Checks by Vanguard confirmed that President Tinubu’s, Special Adviser on Energy, Olu Verheijen would likely lead the government’s decision on the electricity tariff review and all other reforms in the sector.

Last Friday, she met with top government officials at the Federal Ministry of Power in Abuja where she was said to have put forward her vision for the power sector.

Already, some consumers said they would attend the planned stakeholders meeting expected to through up issues, including the rising cost of operations, inflation and foreign exchange for discussion.

Meanwhile, the Electricity Distribution Company, DisCos said the upward tariff review would encourage investment, leading to the supply of additional power to consumers.

Similarly, the Manufacturers Association of Nigeria, MAN also noted that the implementation of the nation’s Electricity Act would also be enhanced because of the new tariff.

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In its position paper obtained by Vanguard, the association stated: “As an advocacy Association, MAN has always pushed for the need to charge cost-reflective electricity tariff to avoid extortion of our members. Fortunately, it is of great delight that this new Act fits like a glove as it will help actualize a cost–reflective tariff considering the healthy price competition it will bring between the states and private investors.”

However, the President, of Nigeria Consumer Protection Network, Mr Kunle Olubiyo, in a note to Vanguard, noted that much value has not been given to consumers despite several past tariff reviews.

He said more investment should be channelled into the capacity expansion of critical power grid infrastructure and network improvements in order to upscale efficient service delivery, quality of supply and customer satisfaction in the post-privatized Nigerian power sector.

He also said: “Government should address matters relating to domestic gas obligation, appropriate gas pricing and gas to the domestic market should be sold in local currency (Naira) for use by gas to power generation power plants.

“Government should provide tax incentives, fiscal and non-fiscal incentives and access to long-term low-interest single digits credit facilities to indigenous meters assembling plants/local meters manufacturers in order to strengthen their production capacity.

“End users of electricity in Nigeria should be given the opportunity to buy pre-paid meters off the shelves. Conversion of the post-paid meters used by maximum demand metered customers who are bulk users into pre paid maximum demand meters in order to enhance energy accountability and customer-centric, customers’ satisfaction & value for money.”

Tariff HIKE: NERC awaits President’s approval, plans stakeholders meeting

(vanguard)

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Boko Haram attacks military base in Adamawa

Published

17 hours ago

March 22, 2025

Trends Admin

Boko Haram attacks military base in Adamawa

Terorist group, Boko Haram, on Friday launched a deadly attack on a military base in Waga Village, Madagali Local Government Area of Adamawa State.

According to a report by counter-insurgency expert, Zagozola Makama, troops of the Nigerian military Joint Task Force successfully repelled the attack .

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“The attack occurred around 3:30 a.m. on Friday when suspected terrorists launched an assault on the base. However, the troops swiftly responded, forcing the insurgents to retreat,” the report said.

It was also gathered that there were no casualties among security personnel or residents of the community, and normalcy has since been restored.

Boko Haram attacks military base in Adamawa

metro

Oluwo accuses Ooni of plotting to dethrone him

Published

17 hours ago

March 22, 2025

Trends Admin

Ooni of Ife Oba Enitan Ogunwusi and Oluwo of Iwo Oba Abdulrasheed Akanbi

Oluwo accuses Ooni of plotting to dethrone him

A quiet but bruising war is raging between the Oluwo of Iwo, Oba Abdulrosheed Akanbi and the Ooni of Ife, Oba Adeyeye Ogunwusi, over alleged dethronement plots.

Oluwo, in a statement on Friday night, alleged that Oba Ogunwusi was seeking his downfall despite playing a prominent role in his emergence as the Ooni of Ife.

He stated that the link he used for Oba Ogunwusi would have been used for his elder brother, Tunji Adeyeye, who was his friend and peer at Akobo, Ibadan at a tender age.

Oluwo recalled how he arranged several meetings in Ibadan after one Akin Daodu, then a close ally of Oba Ogunwusi, begged for his intervention.

He said: “To my surprise, the same person I helped to the throne has been planning evil against me.

Oluwo recalled how he arranged several meetings in Ibadan after one Akin Daodu, then a close ally of Oba Ogunwusi, begged for his intervention.

He said: “To my surprise, the same person I helped to the throne has been planning evil against me.

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“He orchestrated my suspension from the Osun State Council of Obas meeting against the AIG who was a star witness to what transpired.

“He is using a few kings in Iwoland to destabilise my territory.

“He attacked me last month in the presence of the governor, that I am discouraging deity worship.

“He was one of those who used my former wife against me.

“He wants me to be removed as Oluwo by all means. Such is a dream that can never come true.

“No one can remove me as Oluwo. No one can kill me and no one can bring me down.

“He should keep trying. He will be the one to live to regret. His cohorts that tried it in the past failed.”

However, the Ooni of Ife, Oba Ogunwusi, speaking through his Director of Media, Otunba Moses Olafare, denied the allegations raised by Oluwo.

He said: “Oba Adeyeye has been ordained as a king from heaven, regardless of who does what. He is a king with God on his side.

“When Oluwo wanted to be king, Ooni supported him with cash and other logistics that we can’t even mention here.

“At the last Council of Oba meeting, Ooni only jokingly told Oluwo that he should not condemn any monarch for worshipping deities but should allow anyone to practice anything they feel is good for them.”

Oluwo accuses Ooni of plotting to dethrone him

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Lagos man stabs security guard for stopping his sex romp

Published

17 hours ago

March 22, 2025

Trends Admin

Igbosere Magistrate’s Court

Lagos man stabs security guard for stopping his sex romp

A 33-year-old man, Otobong Enyietim Akpan, has been arrested and remanded in prison for allegedly stabbing a security guard, Adamu Muhammed, in the neck and head with a knife after being prevented from having sex with his girlfriend at a security post in Lekki, Lagos.

According to the police, the incident occurred on 2 March, 2025, when Akpan took his girlfriend to the security post at 35B, Land Bridge Avenue, Oniru Estate, Victoria Island, intending to engage in sexual activity.

However, the security guard refused, stating that the post was not a hotel.

Enraged by the rejection, Akpan reportedly threatened to kill Muhammed and left the scene, only to return moments later.

In a violent outburst, he allegedly pulled a knife from his trousers and stabbed the security man multiple times, leaving him bleeding profusely from the neck and head.

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Residents who witnessed the attack overpowered the suspect and restrained him while others rushed the injured guard to a hospital.

A distress call was placed to the Maroko Police Division, leading to Akpan’s swift arrest.

Akpan was charged before the Igbosere Magistrate’s Court, sitting at the Tinubu Magistrate’s Court, on one count of causing grievous bodily harm—a crime punishable under Section 245 of the Lagos State Criminal Law, 2015.

Police prosecutor Reuben Solomon told the court that the accused attacked the security guard with a knife after being denied access to use the post for sexual activity.

Akpan pleaded not guilty, and Magistrate N.S. Wahab granted him ₦500,000 bail with two sureties in like sum.

However, he was remanded at the Ikoyi Correctional Facility pending the fulfillment of his bail conditions.

The case has been adjourned to 28 March 2025 for mention.