Osun Central Senator Olubiyi Fadeyi has revealed that he spends a staggering one million naira monthly on electricity and diesel. This revelation came during an investigative hearing on the proposed electricity tariff increase in Abuja.
Fadeyi argued that the classification of customers into Band A, which would entail a 340% tariff hike, was unjustified given the unreliable electricity supply. He emphasized that Band A customers, who are entitled to 20 hours of electricity daily, were not receiving adequate service.
Despite the Nigerian Electricity Regulatory Commission’s (NERC) claim that the increase would reduce generator dependency and diesel expenses, Fadeyi vehemently disagreed. He stated that he still incurs significant costs on both electricity and diesel.
“I spend N1 million on electricity and another N1 million on diesel, excluding business expenses,” Fadeyi said. “If the electricity supply was reliable, I wouldn’t need to spend so much on generators.”
Fadeyi urged NERC to enhance its regulatory oversight and ensure efficient electricity distribution. He emphasized that the proposed tariff increase would only exacerbate the financial burden on Nigerians already grappling with high energy costs.
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