Minister for Power, Works and Housing Babatunde Fashola says Nigeria is beginning to reap the benefits of privatising the Power sector. Fielding questions from members of the Senate Committees on Labour, Employment, Productive and Power, Fashola says some foreign investors are putting in about nine dollar yearly to enhance distribution of electricity in the country.
The Nations Electricity Regulator NERC has at the public hearing also been saying that there will be no going back on the new electricity tariffs. The two day public hearing which began Tuesday has in attendance representatives of the Trade Union Congress, the Central Bank and the ministry of Power. The Minister for power in response to questions about tariffs says his ministry is not responsible for fixing tariffs.
The Committee members were insistent on finding out why many parts of the country were experiencing power shortages even with the huge amounts collected as tariffs from consumers.