DailyrecordNg …Nigeria's hottest news blog
Related Articles
The Senate committee had earlier rejected the new tariff regime.
In his address, the minister said, “The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs.
“This is because of the infrastructure requirement for the stability of the sector. But the government cannot afford that. And so we must make this sector attractive to investors and to lenders.
“So, for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing.
Adelabu, according to Daily Trust report, said the inability of the government to pay outstanding N2.9 trillion subsidy was due to limited resources, hence the need to evolve measures to sustain the sector.
In a recent hearing, the Minister of Power called on lawmakers to support the payment of outstanding debts owed to operators across the value chain of power generation, transmission, and distribution.
However, the Senate Committee on Power expressed concerns over the impact of tariff increases on Nigerian citizens and requested that the Minister and other stakeholders explore alternative solutions. Senators Simon Lalong and Adamu Aliero noted that there was a lack of consultation prior to the tariff hike and called for palliative measures to be implemented.
Other stakeholders who presented at the hearing included the Nigerian Electricity Regulatory Commission (NERC), the Manufacturers Association of Nigeria (MAN), the Association of Power Generation Companies (Gencos), and the Electricity Distribution Companies (DisCos).
