OP-ED: “LET PRESIDENT MUHAMMADU BUHARI REST IN PEACE” - BY NASIR AHMAD EL-RUFAI . (PHOTO). #PRESS RELEASE

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 OP-ED: “Let President Muhammadu Buhari Rest In Peace” - By Nasir Ahmad El-Rufai  The recent launch of a book on the life and legacy of our late leader, President Muhammadu Buhari, has stirred deep emotions and renewed divisions among those who once formed his inner circle. Having followed the headlines and images from the event, I felt compelled to make a simple but urgent appeal: let us allow President Buhari to rest in peace. A careful look at those who dominated the book launch revealed the same factional lines that existed during Buhari’s lifetime. One camp was prominently represented, while others—equally close to the late president—were excluded. This selective engagement compounded by the choice of location of the event were red flags, and raises concerns about whether Buhari’s legacy is now being shaped to serve narrow interests rather than historical truth. More troubling was the presence of long-time critics of Buhari, some of whom now hold high office, delivering g...
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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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