Connect with us

News

Palaver! ‘Electricity tariff to rise by 300%’

Published

on

Power companies will be allowed to raise electricity prices to N200 ($0.15) per kilowatt-hour from N68 for urban consumers this month, the Bloomberg news agency, citing sources, reported Tuesday.

It was learnt that these customers represent 15% of the population that the government says consume 40% of the nation’s electricity, the agency said.

Bloomberg said Nigeria plans to almost triple energy prices within weeks. It quoted people in the presidency with knowledge of the matter saying this was in a bid to attract new investment and slash about $2.3 billion spent to cap tariffs (subsidies). According to the news agency, “Nigerians will now have to pay $2.42 per one million British thermal units from the previous rate of $2.18 MMBtu.”

This revelation is coming in the wake of Monday’s announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of an increase in the price of natural gas, which is used to generate more than 70% of electricity in Nigeria.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Just in : Dangote Refinery reduction in petrol price, now N970 per litre

Published

on

The Dangote Group has announced a reduction in the price of its Premium Motor Spirit (PMS) to N970 per liter.

This was contained in a statement issued by Anthony Chiejina, the Group’s Chief Branding and Communications Officer, on Sunday.
Chiejina stated that the refinery has lowered its petrol price for marketers from N990 to N970 per liter, providing them with a N20 discount per liter.

Furthermore, he emphasized that despite the price reduction, the quality of the company’s products remains uncompromised.

The statement regarding the price adjustment reads:

Advertisement

“Dangote Petroleum Refinery has effected a reduction in the prevailing price of its Premium Motor Spirit (PMS) from N990/litre to N970/litre for the marketers.

“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the Refinery a dream come true. In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being.

While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

Advertisement
Continue Reading

News

Insecurity! Bandits k!ll 7 farmers, burn 50 bags of maize in Niger state

Published

on

Bandits have k!lled seven farmers, including a vigilante, and burnt 50 bags of maize inside a truck in Bangi, Mariga Local Government Area of Niger State.

Sources on Saturday, November 23, told Daily Trust that the victims had gone to bring the harvested maize home from their farm when the bandits ambushed them, k!lled all the occupants in the truck and set the truck.

Bandits have killed seven of our farmers who had gone to farm to bring the maize they had harvested home. The attackers hid and waited until after the victims had loaded the 50 bags of maize into the truck and were about to take off to return home when they opened fire on them. After k!lling the victims, they also set the truck and the 50 bags of maize already loaded ablaze,” a source said.

He said it was difficult for farmers in Mariga to harvest their crops this year due to k!llings and kidnappings by bandits.

Advertisement
Continue Reading

News

SAD! Roman Catholic Oldest Priest Monsignor Thomas Oleghe dies at 103

Published

on

The Bishop of the Catholic Diocese of Auchi, most Rev. Dr. Gabriel Ghieakhomo Dunia announces the passing unto eternal glory of Rt. Rev. Monsignor Thomas Oleghe, at the Immaculate Conception Cathedral Auchi, during the solemnity of Christ the King

Rev. Monsignor is the oldest Catholic Priest in Nigeria.

Monsignor Oleghe death is very remarkable as the centenarian died during the feast of Christ the King.

The demise of the priest of the order of Melchizedek should be best described as (TRANSITION TO GLORY)

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News