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Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians - Politics - Nairaland

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Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by emamos: 7:18am On Oct 09, 2015
Until there is stability in the power sector, electricity tariffs cannot remain at the levels they are currently. Vice President Yemi Osinbajo said Thursday.
Speaking at the Annual General Meeting of the Manufacturers Association of Nigeria, MAN, the Vice President who represented President Muhammadu Buhari as the Special Guest of Honour, said truth of the matter regarding electricity tariffs 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."
In a similar vein, the Vice President also made it clear at the meeting that a review of the CBN restrictions on foreign currency is 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 spoke more on the electricity tariffs:
"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.
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 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.http://allafrica.com/stories/201510090094.html
lalasticlala,seun
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by emamos: 7:19am On Oct 09, 2015
no problem if the power s constant but nt now...Quote me and be blessed
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by bonechamberlain(m): 7:20am On Oct 09, 2015
grin
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by Nobody: 7:21am On Oct 09, 2015
prepare to get bashed
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by Nobody: 7:23am On Oct 09, 2015
If we use/see what we pay for, its okay, rather than paying exhorbitantly for non-existent light.
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by PAINGAIN: 7:24am On Oct 09, 2015
Na wao! This is truly one chance. Politifians, just like pastors, milking nigerians dry since 19gbirigidin

3 Likes

Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by kelvine(m): 7:26am On Oct 09, 2015
After the increase, hope the supply won't drop.
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by amii131(f): 7:26am On Oct 09, 2015
angry
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by BusinessHub1: 7:27am On Oct 09, 2015
Hmmmm
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by BlackrulesDworld(m): 7:32am On Oct 09, 2015
Welcome to the zoo.

1 Like

Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by PRYCE(m): 7:33am On Oct 09, 2015
How do you intend to alleviate poverty with your 5000 gifts if you'll come right back and take it? It's like giving someone money tied to a long rope!
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by pet4ril(f): 7:34am On Oct 09, 2015
We are ready. ..but they should be ready to give us 24hrs light as well
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by TIMEISWISDOM(m): 7:37am On Oct 09, 2015
how much is more? I hope it won't be too high a tariff for the masses
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by TheFreeOne: 7:49am On Oct 09, 2015
He doesn't make sense at all. So the people have to bear the brunt of govt inefficiency
When some term him a mere commissioner some idiots will start hyperventilating unnecessarily.

Why should I pay more for nonexistent power and N750 for fraudulent service charge

Nonsense.

1 Like

Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by Nobody: 7:50am On Oct 09, 2015
Bring the light first. its simple!
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by ernesty20(m): 8:00am On Oct 09, 2015
Look at this short man:/ prepare to do what?
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by Kasiem2: 8:06am On Oct 09, 2015
Mere commissioner trying to make the news........................ no allow el rufai catch you there.




Abeg, who knows where tinubu is? I heard the family has declared him missing Since the day he realised that saharareporters is not nigeria
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by Blackfire(m): 8:09am On Oct 09, 2015
HAILLING HAILLERS, come and defend your LYING LIAR, because the WAILLING WAILLERS are here.


*dodge slaps and blows*

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Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by otukpo(f): 8:11am On Oct 09, 2015
They have started. Th,ey promised us heaven on earth but now, they are grsduky taking away from us the little comfortd we were having before they came
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by ckmayoca: 8:12am On Oct 09, 2015
You too be prepared to increase minimum wages and pay unemployed. Awon wayray.

1 Like

Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by kenny987(f): 8:29am On Oct 09, 2015
How about Nigerians prepare for better efficient n reliable services? Or a more effective health sector with free services for children n d aged? Or real security from dangers like robbery et al?

How about we prepare for a sound education sector and a properly regulated/buoyant economy? Is it a crime if we prepare to drive on well paved/tarred roads with erosion control? Functional seaports beyond Lagos? Real acknowledgement n respect for human rights? Courtesy n professionalism from law enforcement agents n agencies?

What is d point of winning elections, commandeering state resources n still grabbing wat d ppl have without commensurate services n quality delivery?
Re: Nigeria: Prepare To Pay More For Electricity, Osinbajo Tells Nigerians by stevecantrell: 8:53am On Oct 09, 2015
I pray lobbyists within APC will not destroy all the good intentions this govt has for Nigeria.

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