Electricity meters

TVC E, BUSINESS – The minister of Works, Power and Housing, Babatunde Raji Fashola, has disclosed that the new electricity tariff is designed to benefit Nigerians as it will drive more investors and boost power generation.

Fashola, who addressed journalists shortly after appearing before Senate committee on Power during a budget defence, said Nigerians will benefit at the long run from the new tariff.

“The new tariff is meant to drive more investors into the sector and Nigerians will benefit at the long run. The tariff will keep going down as we generate more power.”

But the former Lagos State governor suggested an alternative way of reducing electricity bill. Fashola advised Nigerians to be more conservative with power consumption. He said electricity consumers can actually reduce their cost of electricity by being conservative with power.

“While it is true that electricity consumers would have to pay more by virtue of the new tariff, it does not necessarily mean that their consumption too will increase. So they can actually reduce their cost by being more conservative with power, ” Fashola advised.

It would be recalled that the new electricity tariff recently announced by the Nigerian Electricity Regulatory Commission, NERC became effective on 1st February.

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