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Nigerians Rich Enough to Contend with Electricity Hike –Verheijen

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By Our Correspondent 

Presidential Adviser on Energy, Olu Verheijen, has signaled that Nigerians are rich enough to foot an imminent 65% tariff increase underway.

Verheijen suggested that wealthier Nigerians can absorb a potential electricity tariff hike, revealing that the N200 billion monthly subsidy primarily benefits the richest 25% of the population rather than those in real need.

While clarifying reports of this imminent tariff hike, the Presidential Adviser did not deny a forthcoming hike but stressed that current tariffs only cover 65% of electricity supply costs, leaving the government to fund the difference.

Her remarks signal a shift towards a targeted subsidy system, implying that wealthier Nigerians will soon bear the full cost of power consumption.

She highlighted the government’s Presidential Metering Initiative, which aims to reduce estimated billing and increase transparency, suggesting that a fairer pricing structure is being prepared.

Additionally, clearing debts owed to power companies is seen as a step to attract investment and improve electricity supply.

Although Verheijen assured that reforms would protect vulnerable Nigerians, her statements indicate that a tariff increase is inevitable, with the government preparing wealthier citizens to shoulder the financial burden of electricity reforms.

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Reps Approve ₦54.99tn 2025 Budget

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By Ifeoluwa Odunayo

The House of Representatives has approved Nigeria’s ₦54.99 trillion 2025 budget, marking a pivotal step in addressing economic challenges and public services.

The revised budget, up from the initial ₦49.7 trillion proposal, includes ₦3.645 trillion for statutory transfers, ₦14.317 trillion for debt servicing, ₦13.64 trillion for recurrent expenses, and ₦23.963 trillion for capital projects.

Lawmakers expect the increased spending to stimulate economic recovery, stabilize key sectors, and reduce borrowing reliance.

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Nigeria Moves to Repatriate 400,000 Refugees from Chad, Niger, Cameroon

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By Nike Lawal 

The Nigerian federal government has revealed that over 400,000 Nigerian refugees remain in Chad, Niger, and Cameroon, with efforts underway to facilitate their safe return.

Speaking at a Technical Working Group meeting in Abuja, Tijani Ahmed, Federal Commissioner of NCFRMI, stressed the need to assess past repatriation efforts and strengthen partnerships for a smoother process.

A tripartite agreement between Nigeria, Chad, and UNHCR has already enabled the return of 3,000 refugees, with more repatriations planned, especially from Cameroon.

UNHCR Deputy Representative Bernadette Muteshi reaffirmed the agency’s commitment to supporting Nigeria’s leadership in ensuring a safe and sustainable return for displaced citizens.

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FG Orders Strict Compliance with Treasury Single Account Policy

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By Adenike Lawal

The federal government has directed Federal Pay Officers (FPOs) nationwide to enforce strict adherence to the Treasury Single Account (TSA) policy by all Ministries, Departments, and Agencies (MDAs) at the state level.

During a visit to the Federal Pay Office in Benin, Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein, warned that MDAs must not bypass TSA rules or maintain unauthorized accounts with commercial banks. Any exceptions require presidential approval through the AGF.

She urged FPOs to uphold transparency, professionalism, and ethical standards in managing federal funds, adding that routine inspections will ensure compliance.

Dr. Madein also acknowledged operational challenges and announced plans to build new office structures to improve working conditions for FPO staff.

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