There Will Be Total Blackout For The Next Three Months If You Reject New Policy – Minister of Power Warns Senate

The Minister of Power, Adebayo Adelabu, has warned that there will be a total blackout in Nigeria in the next three months if the proposed electricity tariff hike is not implemented. The minister stated this yesterday in Abuja when he appeared before the Senate Committee on Power at an investigative hearing over the recent electricity tariff hike by the Nigerian Electricity Regulatory Commission (NERC). This is after the Senate committee, led by Senator Enyinnaya Abaribe, rejected the new tariff regime. Adelabu warned that the entire sector would be grounded if the Commission fails to increase the tariff. Adelabu said, “The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs. “The increment will catapult us to the next level. We are also Nigerians. We are also feeling the impact.” He said $10 billion yearly for the next ten years is needed to revive the nation’s power sector and nip in the bud the challenges bedevilling it. “For this sector to be revived, the government needs to spend nothing less than 10 billion dollars annually in the next 10 years. “This is because of the infrastructure requirement for the stability of the sector. But the government can not afford that. And so we must make this sector attractive to investors and to lenders. “So, for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing. “If the value is still at N66 and the government is not paying subsidy, the investors will not come. But now that we have increased the tariff for A Band, there are interests being shown by investors,” he said.

Senate gives update on P/Harcourt Refinery

The Senate Ad-Hoc Committee to Investigate the Turnaround Maintenance of Nigeria’s Refineries has said the Port Harcourt Refinery will begin operation before the end of December. This is as the Rivers State Governor, Siminalayi Fubara, has stated that his administration is working in tandem with President Bola Tinubu-led Federal Government’s policies designed to make life better for Nigerians through the Renewed Hope Agenda. Fubara noted that, in doing so, the Woji-Aleto-Alesa-Refinery Road, now 70 per cent completed, was being constructed to provide a bypass to easily access the Port Harcourt Refinery and take off traffic from the East-West Road. He made the remark when members of the Senate Ad-Hoc Committee to Investigate the Turnaround Maintenance of Nigeria’s Refineries, led by their Chairman, Senator Ifeanyi Ubah, paid him a courtesy visit at the Government House in Port Harcourt on Friday. This was contained in a statement issued in Port Harcourt on Saturday by the Chief Press Secretary to the Governor, Nelson Chukwudi. The governor said the purpose of governance was to make life easy for the people. He expressed delight that the Senate Committee’s investigation would make life easy and meaningful for Nigerians. The statement read, “We, as a state, before the commencement of the rehabilitation job, had a contribution that we wanted to make to support the work at the refinery because of the deplorable state of the East-West Road. “There is a road: Woji-Aleto-Alesa Refinery Road. We are almost completing the bridge. It’s about 70 per cent completed. We are doing almost the last part of it. With that road, it will help to decongest and reduce the trouble commuters face along the East-West Road while providing easy access, straight to the refinery. “So, you can see that our government is working in line, supporting the Administration of President Bola Tinubu to give our people hope and assurance that things will soon get better.” It added, “And it is this role that you are playing, genuinely. With the support of this state government, that is the only way we can achieve the purpose of governance for everyone. “The purpose of governance is to make life easy for the people. I am happy that your investigation would make life easy for the people,” the governor explained. Fubara pointed to the derivable benefits when the refinery is eventually revamped and becomes operational, both to the Federal Government and host, Rivers State. He added, “When the refinery restarts production, there will be petroleum products available locally. The issue of importation will go down. “We will now make an impact, the economy will grow, and internally generated revenue will increase. More projects will be executed in this state. You can see that it’s a chain effect thing. So, I want to thank you.”