WE'LL CONTINUE TO TOUCH LIVES OF LAGOS RESIDENTS POSITIVELY, SAYS SANWO-OLU. (PHOTOS). #PRESS RELEASE.

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 WE'LL CONTINUE TO TOUCH LIVES OF LAGOS RESIDENTS POSITIVELY, SAYS SANWO-OLU •Governor advises unhealthy Muslims against 2025 Hajj   TheLagos State Governor, Mr Babajide Sanwo-Olu, on Tuesday reassured the people that his administration will continue to touch the lives of Lagos residents positively.   Governor Sanwo-Olu spoke at the Eid-el-Fitr celebration organised by the First Family of Lagos State and the Ministry of Home Affairs themed 'My Lord, Indeed I Am, for Whatever Good You Would Send Me in Need' at Lagos House Marina. The Governor said his government will continue to deliver purposeful governance to better the lives of Lagosians.   He said: "I am happy you all came out today to celebrate with us. We thank all our Muslim brothers and sisters. We are thankful to all of you for your belief in our government. I pray that God Almighty will continue to keep us in peace and unity.   "We thank all our religious leaders for supporting us, and we promise you th...
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FG'S ELECTRICITY SUBSIDIES INCREASE BY 2.76% TO N199. 64BN IN DECEMBER- NERC. (PHOTO).

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 FG’s Electricity Subsidies Increase by 2.76% to N199.64bn in December – NERC


The Nigerian Electricity Regulatory Commission (NERC) has announced a 2.76% increase in electricity subsidies payable by the Federal Government for December, raising the total from N194.26 billion in November to N199.64 billion. This increase follows adjustments due to factors such as the rising exchange rate, inflation reaching 33.9%, and changes in available generation capacity.


The December 2024 Multi-Year Tariff Order (MYTO), posted on NERC's website, retains electricity tariffs for all customer categories. Customers in Bands B to E will continue to pay the same rates as December 2022, while Band-A customers will maintain the rate of N209/kWh.


Key beneficiaries of the subsidies include Abuja DisCo, which will receive N29.10 billion (up from N27.86 billion in November), and Ikeja Electric, which will benefit from N26.68 billion in government subsidies.


NERC confirmed that the gas-to-power price benchmark remains at $2.42/MMBTU, based on the rate set by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Despite the increase, NERC emphasized that the tariffs are subject to monthly adjustments based on factors like inflation, exchange rates, and gas prices.


Chief Princewill Okorie, Executive Director of the Electricity Consumers Protection Centre, commented that subsidies are ineffective without adequate electricity supply, criticizing the DisCos for poor service and the continued use of estimated billing for unconsumed power.

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