NAN had reported that President Muhammadu Buhari-led Federal Government through the Nigerian Electricity Regulatory Commission, NERC, approved an increase in electricity tariff by the Electricity Distribution Companies, DisCos, in the country.
The directive of the new tariff regime for different DisCos and category of customers was published on NERC website on Saturday.
The directive was signed by the NERC Chairman, Prof. James Momoh and Secretary, Mr. Dafe Akpedeye.
But, Mr Usman Arabi, General
PDP described the decision as “draconian” and completely against the interest and wellbeing of Nigerians.
A statement by PDP’s spokesperson, Kola Ologbondiyan on Sunday charged the Federal Government to immediately rescind the obnoxious and provocative policy and consult further with Nigerians before any such tariff hike.
PDP described the increase in electricity tariff as a furtherance of the fleecing of Nigerians, who are already overburdened and groaning under the weight of high costs, economic repression and heavy taxes foisted
The federal government has said it is expecting an improvement in electricity supply to Nigerian, just as it revealed that an increase in electricity tariff will be inevitable.
The Minister of Power, Saleh Mamman, said this a statement signed by his media aide, Aaron Artimas.
He said the government was heavily burdened by the financial interventions it was providing the power sector to cushion its challenges.
Mamman, equally complained that while the cost of electricity units in neighboring Niger Republic was higher than it is in Nigeria, consumers in Niger were prudent in their payment for electricity bills unlike in …
The Peoples Redemption Party (PRP), on Tuesday, decried the country’s rising debt profile, stating that there is need for the federal government to take urgent steps to reduce the debts.
President Muhammadu Buhari in separate letters to the two chambers of the National Assembly last is seeking the lawmakers approval to borrow $30billion.
However, the National Chairman of the party, Falalu Bello, who spoke at a press briefing in Abuja, said it is unfortunate that the All Progressives Congress (APC) led federal government has nothing concrete to show for the many loans, it has taken since its inception in 2015, …
President Muhammadu Buhari on October 8 presented the Finance Bill to a joint session of the National Assembly for consideration and passage into law.
The president presented the bill alongside the 2020 Appropriation Bill. He proposed an increase in the Valued-Added Tax rate from five percent to 7.5 percent.
The bill also proposes to amend the
The World Bank has pledged its support towards assisting Nigeria to increase its Internally Generated Revenue (IGR) to address poverty and service delivery by government.
World Bank Country Director in Nigeria, Mr Shubham Chaudhuri, made the pledged at the opening of a Peer Learning Event organised by the Nigeria Governors Forum (NGF) on Tuesday in Abuja.
Chaudhuri said one of the things that surprised him when he assumed office in Nigeria was the country’s low level of revenue to Gross Domestic Product (GDP), put at eight per cent.
According to him, this is small compared with the number obtainable in
The President, Nigeria Labour Congress (NLC) Dr. Ayuba Wabba, has described as mere speculation, reports of an agreement to a 20 percent and 13.5 percent consequential adjustments for workers on Grade Levels 7-14 and 15-17 respectively.
At the minimum wage meeting, Wabba said although organized labor and the government’s representatives have made concessions, they were both discussing to reach a definite agreement on the salary adjustments.
“We have made progress in many areas, the areas we are talking is that of implementation and the consequential adjustment, that is the only subject matter that is under consideration and that is …
A legal expert, Muyiwa Balogun, has called on the Asset Management Corporation of Nigeria (AMCON) and its Asset Management Partners (AMPs) to leverage the 2019 amended AMCON Act, which has been signed into law by President Muhammadu Buhari to recover the over ₦5 trillion outstanding AMCON debt before sunset.
Balogun who made a case in support of the 2019 Amendments while addressing external solicitors and AMPs of AMCON in Abuja painted a gloomy picture of what could befall the economy if the debts were not recovered in time
According to him, AMCON debt could easily rise to N6.6trillion by 2024 …
The Minister of Labour and Employment, Senator Chris Ngige, Thursday attributed the challenges being experienced in reaching agreement on full implementation of the new minimum wage increase, caused by the present impasse over the consequential adjustment of the minimum wage for Grade Levels 7 to 17, to the wrong interpretation of the increase by the organised labour.
The minister, while receiving a delegation of the Nigeria Employers Consultative Association (NECA) who visited him in Abuja, accused labour of interpreting the minimum wage to suit its purpose.
He said: “Consequential adjustment of the minimum wage is the main issue. It …
The Nigerian Communications Commission (NCC) says there is an addition of 43,807 active subscribers on the telecommunication networks in March 2019.
The telecommunications regulator disclosed this in its Monthly Subscriber/Operator Data made available on its website on Saturday.
The News Agency of Nigeria (NAN) reports that the active subscribers on the telecommunications networks increased from 173,670,035 in February to 173,713,842 in March.
According to the data, 173,432,863 of the 173,713,863 active users subscribe to the Global System for Mobile Communications (GSM) network services.
The GSM operators’ active customers’ figure increased by 156,335 in March, after the 173,276,528 subscribers recorded in …
US President Donald Trump announced Sunday that the United States would raise tariffs on $200 billion of Chinese goods to 25 percent this week, because trade talks are moving “too slowly.”
Trump’s action came as a major Chinese delegation is expected to arrive Wednesday in Washington for the latest round of talks to end the trade war between the world’s two biggest economies — a round billed as the last one and possibly leading to a deal to end the conflict.
“For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High …
