"Shameful": Details emerge as Tinubu dwells in lamentation

• President Bola Tinubu has lamented the low electricity generation for a country as big as Nigeria
• The president said it was disappointing that a big country like Nigeria is generating only 4.5 gigawatts and that was not sufficient for the country
• Tinubu's lamentation came hours after the electricity distribution company announced an upward review of electricity tariff in the country

President Bola Tinubu has expressed disappointment in Nigeria's electricity generation, stating that 4.5 gigawatts is insufficient for a country of its size.

Tinubu made this statement during the inauguration of the Presidential Economic Coordination Council in Abuja, emphasizing the need for innovative solutions to the country's economic challenges.

Tinubu laments poor electricity generation of Nigeria Photo Credit: @officialABAT
Source: Twitter

Tinubu speaks on private sector roles

He highlighted the importance of public-private partnerships in driving economic reforms, particularly in the energy sector.

Tinubu stressed the need to improve the oil and gas sector, increase electricity generation and distribution, and ensure energy security in Nigeria.

His statement reads in part:

President Tinubu inaugurated the economic council at the presidential villa on Thursday, July 4, making Nigerian business giants, including Aliko Dangote and Tony Elumelu, members of the council.

Labour kicks against new electricity hike

Tinubu's comment came barely 24 hours after the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and the organised private sector rejected the new electricity hike by his government.

The Nigerian Electricity Regulatory Commission (NERC) has approved a tariff increase for Band A customers, citing the depreciation of the naira and inflation. The increase will affect 15% of electricity consumers, who will see their rates rise from N206.80 per kilowatt-hour to N209.50/kWh, a 300% increase from the original rate of N68/kWh.

The hike, which goes into effect on July 1, will impact customers of several distribution companies, including Ibadan Electricity Distribution Company, Eko Electricity Distribution Company, and Kaduna Electricity Distribution Company. The increase is part of NERC's multi-year tariff order, which aims to ensure sustainable energy distribution.

Source: Legit.ng