ABUJA—PRESIDENT Muhammadu Buhari has said
that his government would only raise electricity tariffs when stability is achieved in the power sector. He stated that government was working to improve power generation and distribution from its
current state.

This was even as he stated that there was no assurance that the government would approve the lifting of restrictions imposed on foreign currency by the Central Bank of Nigeria, CBN.

President Buhari spoke through his Vice, Professor Yemi Osinbajo who represented him as the special guest of honour at the annual general meeting of the Manufacturers Association of Nigeria, MAN,
yesterday.

He said: “At this point, if we wanted to have a cost effective tariff, the only way is to service that core value chain, the only way is to ensure that we are paying and compensating the value chain -from
generation down to distribution- a cost effective tariff.

“Power is of course crucial and as the president said in his inaugural address, to which President Mbeki referred, the question of power is one that is absolutely crucial to manufacturing and practically everything else and we shouldn’t be rejoicing at
4000 Megawatts of power. But the problems are historical and several of those problems will need tackling head on, on a day-by-day basis.

“One aspect of the problem that I want to speak about, because this also affects manufacturing, is the whole idea of the tariffs. Of course the president of MAN just said that we have one of the
most expensive electricity in the world.

“Now, the truth of the matter is that at this point, if we wanted to have a cost effective tariff, the only way is to service that core value chain, the only way is to ensure that we are paying and compensating the value chain -from generation down to
distribution- a cost effective tariff.

Cost effective tariff

“You cannot have that cost effective tariff without some pay. At the moment, (when you compare) how much it costs to produce power, and the amount of power that is generated, the losses on account of distribution are significant. In some cases you have
up to 40% losses in distribution, and of course it is the DISCOs that have to take that burden.

“The GENCOs (generating companies) are producing power but they expect to be paid for all the power that they produce. Now, if 40% of this is lost, it means the DISCOs cannot collect 40%, but they have to pay for it somehow. So government has to come in and play some kind of role in order to ensure that the whole value chain is paid for.

“But the most important thing is that the cost of power is reflective of costs that have to be borrowed at every stage of the value chain and today the cost of power, if it’s going to be reflective
in any way is simply what it is. It will be very difficult indeed, except if we are going to introduce yet another subsidy and by the way, a fair amount of that goes on already in the way that government
supports the GENCOs and the DISCOs.

“But I think that we must be ready to accept that for a while, until things stabilize somewhat, tariffs cannot remain at the levels at which they are today, they cannot remain at that level, and that just
simply is the truth of the matter. It certainly means that there may be higher costs, but I don’t think that an option of not having power is really what we want. The real issue of course is that at the end of
the day, some of the cost goes to the consumer, but a cost reflective tariff is an absolute necessity, otherwise, privatization and all of that simply doesn’t make sense.”

The President also made it clear at the meeting that a review of the CBN restrictions on foreign currency was not imminent. His words: “I want to make it absolutely clear that the position is not that
a review of the CBN restrictions on foreign exchange is imminent. It is a short term measure, not a policy, and as things improve, we will have a discussion about what to do. But certainly not that a
review is about to take place”, he said.

http://www.vanguardngr.com/2015/10/electricity-tariffs-to-be-raised-upon-power-stability-buhari/

Lalasticlala

Pls let d power be stable first b4 talking of increase in tarrifs

Good move

The change is finally here

Hehehe! When the present tariff is much more than the minimum wage, How do they want the workers to survive? With no salaries being paid, no food, blackness gradually enveloping everywhere, deplorable roads, inflation.... Now they want to finally take electricity away from them. how does the APC want the poor masses to even survive? How pathetic. Is this the change they were promised?

buhari u are mad

Let wait and see

Good move coming from the president

Oga stabilize the power first. Don't put the cart before the horse.




meanwhile,

Arise O' Sleeping Youth of Nigeria!!!

Awolowo was (37), Akintola (36), Ahmadu Bello(36), Effiong (36), Balewa (34) and Okotie-Eboh(27), Enahoro (27)
led the struggle for independence after the death of Macaulay. Only Zik was 42 at the time.

In 1966, the first coup was led by: Kaduna Nzeogwu (29) and countered by Murtala Mohammed (28), Theophilus Danjuma (28),Babangida (25), Nanven Garba (23), Sani Abacha(23), Shehu Musa Yaradua (23), and brought into power Gowon (32), Ojukwu (33), Obasanjo (29),Buhari (24).

Most of the military administrators who governed the states under the successive military regimes, most of whom are governors now, were under 30years.
The brief democratic dispensation which interjected the military interregnums also saw the house of Representatives in particular populated by majority of members under 30 years as well as some senators.

Under 30s were also not in short supply with appointments, we have examples of MT Mbu who became foreign affairs minister at 23 and Pat Utomi who became a presidential adviser at 27 and so on and so forth.

NOW:

Why is it that this age bracket is today still sleeping in 3 seater chairs in their parents’ homes?

Why is it that this age bracket is today still collecting pocket money from their parents?

Why is it that this age bracket is today still writing jamb?

Why is it that this age bracket is today still sagging their trousers?

Why is it that this age bracket is today still searching for jobs?

Why is it that this age bracket is today no longer qualified to even be leaders of youth wings of political parties?

Why is it that this age bracket is today so docile?

Why is it that this age bracket is today still incapable of feeding itself?

Why is it that this age bracket is today barred by law from even aspiring to certain political offices?

Why is it that this age bracket is today incapacitated, unwilling, unable and incapable of asking questions?

why? why?? why??

That is sanity.

What would a Daura President know about electricity and tarrif?

Ufranklin92:
buhari u are mad

na your papa mate you dey tell say e day mad, abi

Everything about this government is just futuristic: "to be", "will be", "to probe", "will ban", "will defeat", etc. I tire.

Not fair

Good. There shouldn't be any increment when infact there is no stable power supply.
At least if Light dey and I dey enjoy am, what should be my reason for not paying? what I wont accept is that there is no light and crazy bills will be flying in monthly alongside with those increments. The exploitation with those bills is just too much and unbearable.

Still waiting for that day that we will celebrate 24hrs uninterrupted power supply all across the Whole Nation
Is this even Possible? Some will call it future impossible tense

I need just 3 people to assure me this is possible.

Power don stable?

Y una wan increase am. Wen are we ever goin to enjoy anythn amidst all the riches we av?


Must the tarrif be increased? All the ones dat av been taken frm us all dis yrs nko, will it b refunded?. Phcn will nt read ur meter n dey will just write any price dat comes to der mind, n yet we still pay. Several times der will b no light during d month, but twill b brot wen d month is ending and d next thing will b d bill brot for the light u did not use. Why do u want to increase the tarrif? Give us reasons. Its time we nigerians start fighting for our rights. If u are tinkn dat u will be d president in d future, u are jonzing. Der is nothn like leaders of tmw, all we have is leaders of d past, still bcmn leaders of 2day. Nigerians if our country will ever be better it as to be now, n if u n I don't do it,who will?

This will just give more room for corruption in the power sector.

What are they increasing when some people without meters already receive over inflated bills monthly

I was imagining the comment that would've been made by the guy who said, "good move'' if this was from PDP

Ufranklin92:
buhari u are mad

frustration

GUD SAI BABA

We are watching

Make the power stable first....

U NO GET RSPECT AT ALL

Ufranklin92:
buhari u are mad

We need pre-paid meters that's all! And please stop hoarding it.

its not stable yet .
so they should hush for now

How?

Changi

Power Stability would be highly appreciated