Minister of Power, Works and Housing, Babatunde Fashola says Nigerians should expect a drop in the new electricity tariff in no time. Speaking on the sidelines of the ongoing Budget Defence exercise, the Minister explains that the new 10 year plan will drop as power production increases. According to the Minister, Nigerians should bear the burden of the recent 45 percent increment in tariff which he says is as a result of increase in cost of raw materials.
This he explains is because government’s investment in the commodity, Power is not also where it should be. Fashola however states that the new plan is a clear departure for the former biennial plan. In his view, those generating power also need to recoup their cost of production, insists that the increment is a win-win since consumers will no longer pay fixed charges.