Business
Tariff Hike: There will be total blackout if… – Minister of power, Adelabu
The Minister of Power, Adebayo Adelabu, has warned that there would be total blackout in the country in the next three months if the proposed electricity tariff hike is not implemented.
The minister said this in Abuja on Monday, April 29, when he appeared before the Senate Committee on Power at an investigative hearing over the recent electricity tariff hike by the Nigerian Electricity Regulatory Commission (NERC).
According to him, “The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs.
The increment will catapult us to the next level. We are also Nigerians, we are also feeling the impact. For this sector to be revived, the government needs to spend nothing less than 10 billion dollars annually in the next 10 years.
This is because of the infrastructure requirement for the stability of the sector. But the government cannot afford that.
-
News5 days agoFRSC opens 2026 nationwide recruitment, online applications begin July 3
-
Entertainment7 days agoActress Cossy Ojiakor shares flooded home as heavy rainfall wreaks havoc in Lagos
-
Business5 days agoMRS slashes petrol price by N50/Litre as Dangote Refinery cuts fuel costs
-
Business3 days agoPressure mounts on marketers as Nigerians demand lower fuel prices amid falling global oil costs
-
Football6 days agoCAF rejects proposal to expand AFCON to 28 teams
-
Business5 days agoBREAKING: CBN revokes licences of 46 Microfinance Banks in major regulatory crackdown
-
Business3 days agoThe State House Statement: An Unquantifiable Reputational Damage to the Nigerian Financial Sector
-
Business5 days agoNigerian Stock Market suffers Historic N13.29trn loss in June selloff