Percy Onyeka
The Ministry of Power’s attempts to raise the price of power have been met with resistance by the Senate.
The Senate, mindful of the current state of affairs in the nation, also rejected attempts to eliminate electricity subsidies.
The Senate’s resolution came after it had considered and approved a motion made in plenary by Senator Aminu Abbas (PDP, Adamawa Central) regarding the necessity of keeping the nation’s electricity subsidies in place for the foreseeable future.
At a news conference in Abuja last week, Nigeria’s Minister of Power, Adebayo Adelabu, revealed that the country was unlikely to continue receiving the existing electricity subsidies.
He explained that the indebtedness of the country’s power sector to electricity-generating companies and gas companies had risen to over N3 trillion.
He said, “Today, we owe a total of N1.3tn to the power generating companies, out of which 60 per cent is owed to gas suppliers. Today we have a legacy debt, before 2014, to the gas companies of $1.3bn; at today’s rate, that is close to N2 trillion.”
It was reported that the Senate’s spokesperson, Yemi Adraamodu, said it would not allow any hike in the price of electricity that may add to the woes of Nigerians.
Details to follow…
Techrectory with Agency Report
