President Bola Tinubu has reportedly halted the implementation of a hike in electricity tariff and insisted on subsidizing power consumption nationwide, according to the Minister of Power, Adebayo Adelabu.
Adelabu also mentioned that the Federal Government would investigate the legality of the five-year license extension given to privatized power distribution and generation companies, which would have expired on October 31, 2023.
The Minister of Power, Adebayo Adelabu, disclosed on Wednesday that President Bola Tinubu recently halted the implementation of an increase in electricity tariffs and insisted that subsidies be paid on power consumed nationwide.
Additionally, he emphasized that he would dismiss any non-performing chief executive in agencies under the power ministry if their non-performance would jeopardize his position as minister.
Adelabu mentioned that the President had refused to allow an increase in electricity rates due to political reasons and empathy for the people facing economic challenges.
He explained that a cost-reflective tariff would be implemented at the appropriate time, after proper communication with the public and assurance of incremental and regular power supply.
The minister also expressed dissatisfaction with the current power generation level in Nigeria, calling it shameful and unacceptable.
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