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FG Refuses To Confirm Electricity Tariffs’ Increase
Minister of State for Power, Mr. Goddy Jedy-Agba has said he was incompetent to speak on the speculated secret increment in electricity tariffs.
Speaking to journalists on the sidelines of a public hearing on the bill to amend Electric Power Sector Reform Act, 2005 to Provide the Legal and Institutional Framework for the Implementation and Coordination of Rural Electrification projects, Establishment of the National Power Training Institute and Regulatory provisions to Strengthen the Sector for Efficient Services Delivery and for Related Matters’, held at the instance of House Committee on Power chaired by Hon. Aliyu Magaji, Agba said that all enquires should be channelled to Nigerian Electricity Regulatory Commission (NERC).
The Secretary General of National Union of Electricity Employees (NUEE), Comrade Joe Ajaero had earlier in the hearing condemned the arbitrary increase by NERC
Agba said: “Where is the Chairman NERC? He’s the one that does anything on tariff. I can’t speak on tariff. He’s the chairman of NERC that can speak on tariff.”
Reminded that he was the supervising Minister of NERC and other regulatory agencies, he added “No, no, no, don’t put me in a corner. There’s a chairman responsible for NERC. You want me to tell you what does not apply and you hold me on to that responsibility?”
Earlier in his presentation, Ajaero criticised the injection of about N3trillion into the electricity companies without adequate supply for over 10 years.
He said: “There has not been meaningful improvement or contribution by the current investors 9 years after privatization and 17 years after the Electric Power Sector Reform Act, 2005 was signed into law.
“Our position on privatization is clear, but we are worried whether the amendments are critically based on market private public where we belong now.
“Having tried privatization for 10 years, and we are doing just the amendment of sections of the act and even the review provision in the act which gives provision for the review of the sector after five years and we have written consistently and it has not happened.
“This Act, are we really obeying it? If there is provision for review after five years, and Nigerians are groaning, consistently Nigerians are complaining and we say privatization was based on the fact that government doesn’t have any business in it and government is pumping in money to an individual’s business.
“As we speak now, almost N3trillion has been pumped into the power sector which wasn’t there when it was owned by the government. So, what’s the logic to say government has no business in business and government now has to pump and fund the business of another man. And we need to sit down and see what is working for us.
“That is why we came here to say the laws we made by ourselves, we can pause and look at it and move on. Since nobody has talked about reversion of privatization, but let’s see how it can ft us.
“As we are speaking today, the issue of tariffs is on. If government is pumping in trillions and Nigerians are being compelled to pay, you can see what is happening. The country is suffering.
“If you put two trillion (naira) in the economy of Nigeria today, it will thrive, but it is being pumped into business owned by individuals. Let’s look at. What is the cost benefit analysis of this if we have to take our money, and go and check the records, for about 10 years before privatization, government didn’t put ten percent that money into the sector but it’s putting it now.
“For another 10 years, no increase in generation, no conscious master plan, there is no plan in the country that by next year power plant will come into the system. None for the next two years nor three years for power generation to be constant, at 4,000 Megawatt, and demand will continue to increase because more houses will be built, connect on and on.
“So, if this is reduced to public hearing and no action is taken further on how to make the system work, and Nigeria is still at the bottom of countries suffering power poverty all over the world.
“The normal concept is one million people to one thousand megawatt, and we have a country of 200million people with 4 to 5 thousand Megawatt, nobody is talking about it.
“During the Babangida era there was feasibility study on Mambila which had the capability of giving what we are having in this country today and from that period till now nothing has happened. The same thing with Zungeru.
“The union doesn’t want to bask in the euphoria of the Act/law which does not provide one megawatt to the system. The union doesn’t want to bask in the euphoria of having 19 companies, 19 MD’s and ED’s on 4,000Megawatts.
“The company that was owned by one ED before will now multiply. The multiplication of 19 successor companies did not add one megawatt. So, what’s the honest sense of sweeping in 200 companies knowing the generation is constant.
“The option of government controlling 60percent shares of the facilities as against the present 40% (inclusive of the negotiated 10% equity shareholding for staff in line with the laws setting up the National Council on privatization (NCP) is imminent as the Private Sector Operators have clearly shown lack of capacity to construct a simple Power Plant since the last 9 years.
“Besides, the Federal Government has continued to fund the sector. Available statistics shows that about N400billion was realized from the privatization of the Power sector with the Federal Government investing over one trillion thereafter”.
In his remarks, the House Committee chairman, Hon. Aliyu Magaji disagreed with the Nigerian Governor’s Forum (NGF) over power generation and distribution in the country.
“They think and feel that there is a constitutional provision that gives them the right to form a regulatory agency in the country. NGF also wants each state to generate and distribute power across states of the federation.
“As a committee, we have received their documents, we shall look at it thoroughly and critically and decide the next step to take.
“Our intention as a committee is not to go after anybody but to break the monopoly; the Constitution of the Federal Republic of Nigeria is very clear on power generation and control,” he said.
Similarly, consultant to NGF, Eyo Ekpo, said that states have a right under the law to legislate on electricity issues.
“And the Constitution is quite explicit actually in paragraph 14 of schedule 2 where it is explicitly stated that the states have power to make laws for electricity operations that are conducted within the boundary of their states.
“Of course, like it does not with the federal government which has similar power to make laws for electricity generation and transmission that is across the states, similarly, the Constitution grants to the states the power to make laws for electricity business that is conducted within their states.
“So, to the extent that the chairman has said there is a conflict, I will not say there is a conflict. Rather, there is a clear cut separation. Electricity business that crosses border is quite distinct from electricity business that is conducted entirely within the boundary of a state.
“What we are saying as states is that the moment a state makes its own law for electricity to be conducted within its borders, it has the sole and exclusive responsibility for that aspect alone,” he said.
President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”