Connect with us

Headline

Presidency Confirms Fresh Plan To Remove Electricity Tariff

Published

on

President Bola Tinubu’s government has confirmed a new plan to remove the current electricity subsidy of 15 per cent being on enjoyed by consumers in the country.⁣

According to Bayo Onanuga, special adviser to President Tinubu on information and strategy, the move would save the government about N1.1 trillion annually.

Onanuga said the Bola Tinubu-led administration was poised to allow the price hike in electricity given its N450 billion budget for energy subsidies in 2024. ⁣

Power distribution companies will be allowed to increase prices from N68 to N200 per kilowatt-hour for urban consumers in April.

Onanuga explained that the country last reviewed electricity tariffs in 2020, and the planned increase would enable Discos to recover costs and improve investments.⁣

“The regulator will make any pronouncements based on its discussion with the distribution and generating companies. The presidency cannot say anything at this stage,” Onanuga said.

“With the huge subsidy burden and high cost of gas…the current electricity tariff is not realistic,” he told Bloomberg.

Onanuga said the tariff hike would affect only 15 per cent of consumers, accounting for 40% of electricity consumption. ⁣

He said the federal government would help power generating companies to offset about N1.5tn debts they owe the country’s bulk electricity buyer.⁣

An electricity report released by the National Bureau of Statistics on Monday showed that electricity distribution companies in Nigeria saw their revenues surge to N1.1tn in 2023.⁣ This is despite the persistent epileptic power supply nationwide.⁣

Nigeria’s national power grid collapsed 46 times from 2017 to 2023, a report by the International Energy Agency (IEA) revealed.⁣

The IEA said Nigerians endured more nationwide blackouts in 2023, especially on September 14 when the grid collapsed due to a fire on a major transmission line.⁣

Loading

Continue Reading

Headline

Fubara: I Won’t Stop Rivers Assembly From Carrying Out Its Duties — Wike

Published

on

LThe Minister of the Federal Capital Territory (FCT) Nyesom Wike has again thrown his weight behind the Rivers Assembly in its tussle with Governor Siminalayi Fubara.

Fubara and the House led by Martin-Amaewhule have made claims and counter-claims over the presentation of the state’s 2025 budget. Their impasse followed a Supreme Court verdict, recognising the lawmakers as legitimate members of the Rivers State Assembly.

That move led the House to ask Fubara to re-present the state’s 2025 budget which he had presented to the sect of lawmakers led by Victor Oko-Jumbo. Amid the dispute between the legislature and the governor who accused the lawmakers of frustrating his attempts to re-present the budget, Wike has backed the Rivers State House of Assembly.


“Let me tell you, I’m not going to stop the Assembly from performing their constitutional duties. The Assembly should be allowed to perform their constitutional role,” Wike said on Saturday during a Thanksgiving Service held in Abalama, Asari-Toru Local Government Area (LGA) of Rivers State.

“The Assembly people should do their work. Whatever they deem necessary and fit, that is constitutional, they should do. I’m not going to stop anybody from carrying out their functions. I will not do that,” the minister said.

The immediate past governor of the state accused Fubara of seizing allowances and other benefits accrued to members of the Rivers State House of Assembly.

Wike claimed Fubara was deceived into recognising a group of lawmakers and was wrong assured that “Nothing would happen”.

“You went, and they told you to seize Assembly members’ salaries, and allowances for more than one year. These people have no income to pay their children’s school fees and feed their families, and you were jubilating. You were jubilating and people were encouraging you that nothing would happen. But something has happened,” the FCT minister who is also a chieftain of the opposition Peoples Democratic Party (PDP) told the jubilant crowd.

“They will lead you to hellfire,” the minister warned Governor Fubara.

Loading

Continue Reading

Entertainment

Kiddwaya Meets Ambode, Seeks Leadership Advice

Published

on

Reality TV star Kiddwaya, has shared his recent meeting with former Lagos Governor, Akinwunmi Ambode.

According to Kiddwaya, the discussion centred on how to utilise influence to empower his community and the essential qualities required to become a great leader.

Kiddwaya took to his Facebook page to express gratitude for the opportunity, describing the meeting as a “great discussion” with the former Governor.

“I had a great discussion with the former governor of Lagos state, His Excellency, Akinwunmi Ambode.

“As someone who had a successful tenure with Lagos state, I was able to get great advice on how to use my influence to empower my people and the qualities needed to become a great leader,” he wrote.

Loading

Continue Reading

Headline

Tinubu hails pharmacist, public health icon, Prof. Gabriel Osuide, at 90

Published

on

President Bola Tinubu has congratulated an academic, pharmacist and public health icon, Prof. Gabriel Osuide, as he celebrates his 90th birthday.

Mr Osuide’s contributions to pharmaceutical education, drug regulation and public health in Nigeria are unparalleled, the President said in a statement on Saturday by his spokesperson, Bayo Onanuga.

Mr Tinubu said that Mr Osuide’s work in establishing the National Agency for Food and Drug Administration and Control (NAFDAC) and his role in developing the pharmacy education curriculum at the Ahmadu Bello University and the University of Benin were a few examples of his achievements.

The President commended Mr Osuide’s dedication to strengthening Nigeria’s drug regulatory framework, fostering excellence in pharmaceutical sciences, and mentoring generations of professionals.

He said, “Prof. Osuide has shaped the foundation of pharmacy education and drug administration in Nigeria. His unwavering commitment to academic excellence, institutional reforms and public service inspires all. His leadership in safeguarding the health of Nigerians through rigorous drug regulation remains a cornerstone of our national development.’’

According to him, Mr Osuide has helped to position Nigeria as a leader in pharmaceutical sciences and public health innovation.

“President Tinubu joins Prof. Osuide’s family, colleagues and the Nigerian health and education community in celebrating him, and expresses profound gratitude for his invaluable contributions. He wishes Professor Osuide good health and continued wisdom as he inspires and guides the next generation of health professionals.”

Mr Osuide attained 90 years on Saturday.

(NAN)

Loading

Continue Reading

Recent Posts




JOIN US ON FACEBOOK

Trending