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â¢Seeks three-year gas price moratorium
Onyebuchi Ezigbo and Emmanuel Addeh in Abuja
Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand in key markets, thereby piling more pressure on the ability of the Nigerian National Petroleum Corporation (NNPC) to contribute to the Federation Account.
However, the organised labour has suggested the adoption of production cost pricing method where the price of petrol will be based on the cost of domestic crude oil production and refining in the domestic market, as a way of reducing the burden of the price disparity between the market and pump prices of petrol on the federation.
By Ediri Ejor
At the backdrop of rumors of possible hike in electricity tariff, the Minister of Power, Engr. Sale Mamman, has indicated that the ministry is focusing on increased efficiency and not tariff.
In a statement made available to Financial Vanguard last weekend, Mamman said, ‘‘instead of significant hike in electricity tariff, Nigerians should expect an increase efficiency in the sector to reduce tariffs while managing headwinds from foreign exchange and inflation.’’
Mamman explained that the order issued by the Nigerian Electricity Regulatory Commission, NERC, on the 26th of April 2021 titled “Notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies” was a routine procedure.
(AFRICAN EXAMINER) – At the backdrop of rumors of possible hike in electricity tariff, the Minister of Power, Engr. Sale Mamman, has indicated that the ministry is focusing on increased efficiency and not tariff.
In a statement made available , Mamman said, ‘‘instead of significant hike in electricity tariff, Nigerians should expect an increase efficiency in the sector to reduce tariffs while managing headwinds from foreign exchange and inflation.’’
Mamman explained that the order issued by the Nigerian Electricity Regulatory Commission, NERC, on the 26th of April 2021 titled “Notice of Minor and Extraordinary Review of Tariffs for Electricity Transmission and Distribution Companies” was a routine procedure.
Nigeria has requested members of the West African Power Pool (WAPP), a specialised institution of the Economic Community of West African States (ECOWAS) to pay up their pending dues in order to ensure smooth operation of the regional power group.
Aside Nigeria, other members of the group include Benin, Côte d’Ivoire, Burkina Faso, Ghana, Gambia, Guinea, Guinea Bissau, Liberia, Mali, Niger, Senegal, Sierra Leone and Togo.
The body was created to ensure regional power system integration and realisation of a regional electricity market and is made up of public and private generation, transmission and distribution companies involved in the operation of electricity in West Africa.