Business
Electricity Consumers Protest Outrageous Bills
Electricity consumers in Lagos have called on the National Assembly and the Federal Government to prevail on the PHCN management to stop the arbitrary billing of consumers through estimation method.
They told newsmen in Lagos on Friday that arbitrary and excessive billing of consumers called for urgent intervention by the lawmakers and the government.
Mr Taofeek Bamidele, a resident of Ilupeju Estate, Lagos, said the attitude of PHCN officials amounted to cheating consumers.
According to him, there is need for urgent measures to address the abnormalities in the billing system and save innocent electricity consumers.
Bamidele said that for over three months now, most residents around Ilupeju have not enjoyed electricity supply and PHCN officials keep sending huge and unrealistic bills, known as “crazy bills” to them monthly.
“The national assembly members and government should put a stop to this anomaly,’’ he said.
Many residents of Festac Town, Lagos, complained that each flat was being billed about the same amount every month, “whether the apartment is vacant or occupied”.
They said their protests to PHCN on such method of working toward a “monthly revenue target by merely allotting what should be paid by consumers is abnormal”.
According to most of Festac residents, the issue of prepaid metre, expected to solve the problem of crazy bills, is being treated at snail’s speed by PHCN officials.
Mr Andrew Sodipe, a resident of Gbagada area of Lagos, implored the federal government to prevail on PHCN to install prepaid metres for consumers, so “we can ‘pay-as-we-go’ as is the case with mobile phone consumption”.
Sodipe said that he was placed on estimation, even when he had a functional meter, adding that it was a cheating.
“The most frustrating part of it is that even if there is no electricity for most of a month, we are still made to pay the same bill we paid previously,” he said.
Alhaji Salami Badmus, a resident of Ikate in Ajah area of Lagos, said: “many Nigerians appear to be at the mercy of the PHCN because it is the only supplier of electricity”.
“It is just like a racket. If you try to ask for your right they will disconnect you and leave you with no alternative but to come back and beg them since there is no alternative”, Badmus said.
Mr Frank Taylor, a resident of Iponri Housing Estate, explained that though he was a prepaid meter user, he was still being harassed by PHCN officials.
“I was surprised when a PHCN official asked me to pay N1,000 as maintenance allowance for the meter monthly. I don’t understand this”.
“I am being cheated because I expect the PHCN to charge for repairs only when my meter is faulty and not these arbitrary charges. After all, I paid for the meter”, Taylor said.
Contacted on the complaints, PHCN, Lagos Zone, told newsmen that efforts were on to address all the issues raised by electricity consumers.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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