General
FG Denies Plans to Increase Electricity Tariffs by 65%
By Adedapo Adesanya
The Nigerian government has denied reports of an imminent 65 per cent increase in electricity tariffs, clarifying that the claim was a misrepresentation of recent statements on power sector reforms.
Bloomberg reported on Monday that electricity tariffs to reflect the actual cost of production, some Nigerians might need to pay over 65 per cent of what they are currently paying for a kilowatt/hour of electricity.
“Nigeria’s power prices need to rise by about two-thirds for many customers to reflect the cost of supplying it,” Bloomberg quoted the Special Adviser to President Bola Tinubu on Energy, Ms Olu Verheijen, yesterday.
Ms Verheijen took to her official X handle to clarify that she was misquoted out of context by Bloomberg, noting that while there was an adjustment in Band A tariffs in 2024, the new rates only cover 65 per cent of the actual cost of electricity supply, with the government continuing to subsidize the difference.
“The immediate focus of the government is not tariff hikes but delivering more electricity to Nigerians, reducing outages, and protecting the poorest and most vulnerable citizens,” Ms Verheijen said.
The President’s adviser revealed that the government spends over N200 billion monthly on electricity subsidies, but much of this support benefits the wealthiest 25 per cent of Nigerians rather than those who truly need assistance.
“To correct this imbalance, the government is working on a targeted subsidy system that will prioritize low-income households and ensure electricity remains affordable for millions of hardworking Nigerians,” she stated.
She also disclosed that as part of ongoing reforms, the Presidential Metering Initiative will roll out 7 million prepaid meters starting this year, aiming to eliminate estimated billing and ensure transparency in electricity charges.
“With this initiative, Nigerians will only pay for the electricity they consume, reducing complaints about unfair billing while improving revenue collection and attracting investments to strengthen the power sector.
“The government is also addressing the mounting debts owed to power generation companies, which have hindered investment in new infrastructure and disrupted power supply.
“By settling these obligations, we are ensuring that power companies can reinvest in better service delivery, improve infrastructure, and provide a more stable electricity supply for all Nigerians,” Verheijen emphasized.
In addition, the government is implementing fiscal incentives, including VAT and Customs Duty Waivers, to reduce the cost of Compressed Natural Gas, CNG, and Liquefied Petroleum Gas, LPG, as alternative power sources.
Ms Verheijen assured Nigerians that the government remains committed to reforms that will enhance service delivery, expand electricity access, and improve affordability, rather than imposing sudden tariff increases.
“Our focus is on eliminating unfair estimated billing, ensuring subsidies benefit those who truly need them, and creating the conditions for stable, affordable electricity for all,” she said.
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
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