A power expert, Mr Chinedu Bosah, has urged the Federal Government to review the 300 per cent increase in electricity tariff recently introduced by the Nigerian Electricity Regulatory Commission.
Bosah, National Coordinator, of the Coalition for Affordable and Regular Electricity (CARE), appealed in an interview in Lagos.
According to him, a comprehensive review of energy policies will ensure affordability and sustainability for all Nigerians.
He, however, said the 300 per cent tariff hike was not consumer-friendly and therefore urged labour unions to open discussion on it with the government.
He also urged the government to reconsider its decision to raise gas prices, saying it would ultimately increase the cost of electricity for consumers.
Bosah emphasised the burden placed on Nigerian working-class families by successive policy decisions, noting that the hike could add to the economic challenges in the country.
According to him, private power companies and the government should find ways to address challenges in electricity generation, transmission, and distribution.
Also speaking, the Chairman of the Customer Consultative Forum of Festac/Satellite Town, Dr Akinrolabu Olukayode described the tariff hike as detrimental to consumers’ living standards.
Olukayode said there was a need for proactive government investment in the power sector to improve infrastructure and service delivery.
He highlighted the challenges faced by consumers due to frequent power grid collapses and the reliance on expensive fuel for backup power generation.
Olukayode also condemned the increase in gas prices, arguing that it would further burden consumers already struggling with rising costs.
He suggested alternative policies, such as selling gas in local currency to boost revenue and alleviate pressure on consumers.
Olukayode called for a restructuring of the energy sector to allow regions/states more control over their resources.
The expert warned of the dire consequences of continued tariff hikes and called for measures to protect consumers from further economic hardship.
…’ll stifle businesses—Abuja Chamber of Commerce
The Abuja Chamber of Commerce and Industry (ACCI), has expressed concern over the recent increase in electricity tariffs, saying it could negatively impact the ease of doing business in Nigeria.
The President of ACCI, Mr Emeka Obegolu, who spoke in an interview in Abuja over the weekend, said the hike would significantly impact businesses across various sectors of the economy.
Obegolu acknowledged the various challenges already faced by entrepreneurs and investors and opined that Small and Medium Enterprises (SMEs), which are crucial to the economy, would be greatly hit by the hike in tariff.
“The ease of doing business is a critical factor for fostering economic growth, attracting investments, and creating job opportunities.
“Regrettably, the increase in electricity tariffs can hinder these efforts by imposing additional financial burdens on businesses, especially SMEs, which are the backbone of our economy,” he said.
Highlighting the importance of electricity in businesses, Obegolu said any disruptions or cost increases associated with electricity supply could lead to higher operational expenses.
The president said it would hinder businesses’ ability to invest in innovation and expansion and impede their competitiveness in both domestic and international markets.
He also expressed concern that the tariff hike, combined with other economic challenges such as the removal of fuel subsidies and foreign exchange unification, could further compound difficulties faced by businesses.
Obegolu urged the relevant authorities to reconsider the tariff increase and explore alternative solutions that prioritise the needs of businesses.
“Many enterprises are already struggling with reduced demand, supply chain disruptions, and financial constraints. The burden of higher electricity tariffs exacerbates their challenges and threatens their long-term viability.
“As advocates for the business community, we urge relevant authorities to reconsider this decision and explore alternative solutions that prioritise the needs of businesses and support ease of doing business.
“It is vital to strike a balance between ensuring a sustainable energy sector and mitigating the adverse effects of tariff hikes on businesses, particularly during these trying times,” he told NAN.
Obegolu called for constructive dialogue with stakeholders, including business associations like ACCI, to find collaborative solutions that addressed concerns from both energy providers and businesses.
“Through fostering open communication, promoting transparency, and adopting policies that facilitate business growth and competitiveness, we can create an environment conducive to sustainable economic development and prosperity for all.
“As a leading business support organisation in the FCT, ACCI stands ready to collaborate with stakeholders to address challenges posed by the tariff,” Obegolu said.
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IBEDC warns customers against assault on staff
The Management of Ibadan Electricity Distribution Company (IBEDC) Plc, have warned customers against assaulting its members of staff, saying it now attracted jail term.
This is contained in a statement signed by the Managing Director, Mr Kingsley Achife, on Tuesday in Ilorin.
He assured customers that technical teams remained committed to promptly resolving any faults that might occur during this period.
Achife urged customers to report complaints to IBEDC offices or call the customer care line at 07001239999, instead of resorting to violence.
He also warned against tampering with electrical installations, highlighting the dangers of such actions, which could lead to electrical accidents.
“The management felicitates with Muslims and all Nigerians on the occasion of Eid-El-Fitr,” he added.
He emphasised the importance of the season’s sacrifice in fostering love and selflessness for Nigeria’s prosperity.
Achife reiterated IBEDC’s dedication to providing quality service within the remit of its control, even during holidays.
He also advised communities to watch over their electrical installations and report any suspected act of vandalism.
“It is important that communities join us in the fight against vandalism to avoid being plunged into darkness even during this holiday.”
He encouraged customers to utilise IBEDC’s hassle-free payment channels for bill settlements and vending to avoid disconnection.
The payment channels included the IBEDCPAY app for Android and iOS users, FetsWallet Quickteller, Payarena, Jumia, Watu, Buypower, and ATM.
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