Business Nigeria: 4 Major Reasons Why Electricity Tariff is Hiked - Osinbajo

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The Vice President in his key note address during the maiden edition of the National Forum on the economy, organised by Vintage Press publishers of The Nation Newspaper, themed: ‘ National Economy: The Way Forward’ yesterday, explained why electricity tariff increased.

Osinbajo listed the following as major cause of increasing the electricity tariff in Nigeria:

- Shortage in gas supply and drop in power generation

- Generation companies’ inability to supply power to consumers was as a result of short supply in gas and the drop in power occasioned by lost in line of transmission.

- Generation Companies, GENCOs invariably requires increase in electricity tariff to enable them meet demand for power.

- There is no way the GENCOs can supply enough power to consumers without generating enough fund to drive the necessary processes that will bring about adequate power generation and supply.
 

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