The Minister of Power, Adebayo Adelabu, says the N225 kilowatt-hours being paid by electricity consumers on Band A will reduce if the exchange rate falls below N1,000 to a dollar.

Adelabu said this on Thursday when he appeared on Channels Television’s Politics Today.

On April 3, the Federal Government, through the Nigerian Electricity Regulatory Commission, announced that subsidy would no longer be paid on the electricity consumed by Band A customers.

From N68/kWh, Band A customers now pay N255/KWh, while others maintain the old tariffs.

1 kWh is the amount of energy that could be used if a 1,000-watt appliance is kept running for an hour.

For example, a 100-watt light bulb operating for 10 hours would consume 1 kWh.

Answering questions on the programme, the minister stated that the amount being paid by the Band customers is still cheaper than the amount being spent on fuel.

The tariff is flexible. I can tell you if the naira gains more and the exchange rate comes down below N1,000 to a dollar, it must positively affect the tariff; and the tariff, even for Band A, will come down below the N225/KWh that we are currently charging.

“There are variable factors that go into the composition of the tariff, and we are not closing our eyes to it. We are publishing it, we are transparent, we are talking to Nigerians and all the power sector stakeholders. This administration is very serious, and we are committed to transforming the sector,” Adelabu declared.

According to him, the current problems in the power sector had accumulated for over 50 years, saying it could not be resolved in a year.

“The problem we are having is an accumulated problem of over 50 years. It will not disappear in one year, but we’ve been making consistent and gradual progress,” he added.

The minister stressed that efforts are ongoing to upgrade customers on other bands to Band A as power generation improves in the next six months.

The President Bola Tinubu administration has come under heavy criticism for the recent electricity hike as groups and individuals called for a reversal of the decision.

Source: https://punchng.com/electricity-tariff-will-reduce-if-exchange-rate-reduces-below-n1000-adelabu/?fbclid=IwAR0lqAyw1ylkhzVXQfI-bpi9cxD0vOqTOttugiSXwTff9F9i58juU0-DtTU_aem_ATQfn52yxiYi7qObxIHPMUklT26QRoOQo3Ctokq8HbNA5W9UdEKOqxLvT8rFTLSpfts

I'm still waiting waiting for cement price to go back to its normal price.
Abi , dangote, bua, ibeto, elephant and their colleague dey craze?

Nigeria government just like putting the cart before the horse.

Let them fix the power first before putting people in different categories.

If electricity is very stable who cares about bands. The discos should be forced to provide prepaid meters for every customer, the government should also hand over transmission to the private sector.

Things are very costly

shafykay:

The Minister of Power, Adebayo Adelabu, says the N225 kilowatt-hours being paid by electricity consumers on Band A will reduce if the exchange rate falls below N1,000 to a dollar.

Adelabu said this on Thursday when he appeared on Channels Television’s Politics Today.

On April 3, the Federal Government, through the Nigerian Electricity Regulatory Commission, announced that subsidy would no longer be paid on the electricity consumed by Band A customers.

From N68/kWh, Band A customers now pay N255/KWh, while others maintain the old tariffs.

1 kWh is the amount of energy that could be used if a 1,000-watt appliance is kept running for an hour.

For example, a 100-watt light bulb operating for 10 hours would consume 1 kWh.

Answering questions on the programme, the minister stated that the amount being paid by the Band customers is still cheaper than the amount being spent on fuel.

The tariff is flexible. I can tell you if the naira gains more and the exchange rate comes down below N1,000 to a dollar, it must positively affect the tariff; and the tariff, even for Band A, will come down below the N225/KWh that we are currently charging.

“There are variable factors that go into the composition of the tariff, and we are not closing our eyes to it. We are publishing it, we are transparent, we are talking to Nigerians and all the power sector stakeholders. This administration is very serious, and we are committed to transforming the sector,” Adelabu declared.

According to him, the current problems in the power sector had accumulated for over 50 years, saying it could not be resolved in a year.

“The problem we are having is an accumulated problem of over 50 years. It will not disappear in one year, but we’ve been making consistent and gradual progress,” he added.

The minister stressed that efforts are ongoing to upgrade customers on other bands to Band A as power generation improves in the next six months.

The President Bola Tinubu administration has come under heavy criticism for the recent electricity hike as groups and individuals called for a reversal of the decision.


Source: https://punchng.com/electricity-tariff-will-reduce-if-exchange-rate-reduces-below-n1000-adelabu/?fbclid=IwAR0lqAyw1ylkhzVXQfI-bpi9cxD0vOqTOttugiSXwTff9F9i58juU0-DtTU_aem_ATQfn52yxiYi7qObxIHPMUklT26QRoOQo3Ctokq8HbNA5W9UdEKOqxLvT8rFTLSpfts

Everything is tied to the dollar and you want the dollar to come down, be dreaming the fact you have mentioned this is also speculation, someone would benefit from the increase

Parapo clueless Minister at it again

He is not blaming AC & fridges any more but dollars

Only Allah knows the type of Chicago white substance he gets from his master emilokan

The one they handed over what improvement have we seen

Eleporobi:
Nigeria government just like putting the cart before the horse.

Let them fix the power first before putting people in different categories.

If electricity is very stable who cares about bands. The discos should be forced to provide prepaid meters for every customer, the government should also hand over transmission to the private sector.

....yes but only marginally.

Imagine a daft brain people who hate Nigeria say is a technocrat…smh

I doubt it. See dangote and bua has refused to go back to even 4k despite fall in dollars. Tomorrow you will see govt giving them national honour

Why is Nigerian economy tie to the dollar?The prices of gas,fuel,diesel, electricity, tomatoes,onion,rice and other edibles always increase each time the dollar exchange rate to the Naira go high.But will never come down when the Naira regain strength?Since,the Naira is gaining strength against the dollar,prices of goods and services have remained high.

nedu666:
I doubt it. See dangote and bua has refused to go back to even 4k despite fall in dollars. Tomorrow you will see govt giving them national honour

They paid for the unmerited award

WHAT DOES THE DOLLAR EXCHANGE RATE HAVE TO DO WITH ELECTRICITY TARIFF ?

Is this one just stupid or rehearing to be the most idiotic minister ever ?

Tomorrow you will blame sand sellers in the market who use dollar exchange rate as an excuse for increasing their prices.

Una dey import electricity? Which kind rubbish talk be dis

Hmm

This minister no too get sense.

Is he not the one that made that insensitive remark abt freezer?

I no too rate the man at all.

This man needs to become the Minister of Information
He talks more than Lai Mohammed

This guy na olodo o


He just they make blunders.
We are complaining about dollars. Every one is working to remove dollars as ref.

You still Dey cap anyhow.
If you want to talk, why not ask your PR to write speech for you?

Ishie

We don't believe in your words again. It has no weight. Do yourself an honour, go and resign.

10k running daily for the past 6 days days.

This man should be sacked ... dollars that crumbled under ur government and u try to act like u met it this way

The minister that has nothing good to offer.

This man no just get sense at all at all
He should just keep quiet, instead of talking trash.....

Another lai Mohammed on the Loose. is the electricity imported? What has dollar to do with power generated at our backyard

Wen Dollar itself doesnt knw daris something call Naira. May God help us in dis country

This man is like an hexagon peg in a triangular hole, total miss fit.
I doubt if he's an electrical engineer, he should be replaced ASAP.

Make dis man just keep quiet

But why is US consular exchange rate at the US embassy still N1800 to a dollar since February.
The scam is when they refuse to give you visa after booking interview.

Very useless Leaders...you never fix Power sector and you increased tariff to your citizens. What kind of wickedness is that

This man again

What consigns dollar with eletricity