Osinbajo explains why electricity tariff had to be hiked

The Vice President, Prof. Yemi Osinbajo, SAN has adduced reasons there was an increase in electricity tariff, explaining that power generation companies require the increased tariff to be able to meet up with demand for power.

He went on to state that the inability of generation companies to supply power to consumers was as a result of short supply in gas.

The Vice President disclosed this yesterday 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’.

“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,” he declared.

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