Business
Be Ready To Pay More For Electricity, TCN Tells Nigerians

Managing Director, Transmission Company of Nigeria (TCN), Mr Usman Mohammed has said that consumers should be prepared to pay more for electricity in order to ensure regular power supply in the country.
The TCN boss said this last Friday in Lagos during the groundbreaking for the replacement of old wires on the Ikeja West-Alimosho-Ogba-Alausa-Ota Transmission Lines.
According to him, Nigerians have to be prepared to pay more for electricity because there is no relationship between poverty and payment of electricity.
“I want to tell the Nigerian public that we cannot move forward if we do not pay more for electricity. There is no relationship between poverty and payment for electricity.
“For the poor, give them electricity and a means of measurement and manage their cost. But if we don’t initiate a cost reflective tariff system and the situation continue like this, public funds would continue to sink in the sector in futility,” Muhammed said.
The TCN boss also urged the government to stop subsidising the power sector in order to move the sector forward.
“We have to be prepared to remove government in the middle, this issue of government guaranteeing everybody won’t work. The facts is that contracts are not effective and government cannot continue guaranteeing the Generation Companies (GENCOs) where it already sank over N1.5 trillion. The expenses can only be stopped when contracts become effective through cost reflective tarrifs. We have to stop this government intervention and we can only stop it when contracts become effective.
“Contracts can only be effective when you have cost-reflective tariffs. When contracts are effective, everybody is binded by certain agreements,” he said.
According to him, Nigeria has the cheapest electricity in West Africa and we can’t say we are the poorest.
“Even Burkina Faso is having collection efficiency of 98 per cent, despite their location within the sub region, we therefore have to solve the problem of market issues,” said the TCN boss.
Speaking on the cable replacement project, the TCN boss said that the power transmission lines were built many years ago with limitations on the quantity of electricity they were carrying, making the upgrade inevitable.
“So, we are in the process of replacement of old wires on the Ikeja West-Alimosho-Ogba-Alausa-Ota transmission lines”, he said.
Business
NCDMB, Dangote Refinery Unveil JTC On Deepening Local Content

Business
Industry Leaders Defend Local Content, … Rally Behind NCDMB

Business
Replace Nipa Palms With Mangroove In Ogoni, Group Urges FG, HYPREP

-
Politics1 day ago
Alleged Money Laundering: Fayose Has No Case To Answer, Court Tells EFCC
-
Politics1 day ago
Atiku Quits PDP, Says Decision Heartbreaking
-
Rivers1 day ago
CDS Urges Communities To Protect Pipelines
-
Politics1 day ago
Atiku’s Exit No Problem To PDP – Makinde
-
News1 day ago
Shettima, Atiku, Obi Attend Buhari’s Fidau Prayer In Daura
-
News1 day ago
JAMB Uncovers 9,469 Fake Admissions In 20 Tertiary Institutions
-
News1 day ago
NAF Disowns Recruitment Adverts, Says It’s Fake
-
Rivers1 day ago
Okrika Administrator Seeks To Connect Okujagu Ama To National Grid … Donates 30 Life Jackets To Okujagu Ama Boat Drivers