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FG to continue with existing power projects —Fashola

By News Express on 30/01/2016

Views: 2,464


The Minister of Works, Power and Housing, Mr Babatunde Fashola, has given the assurance that government will continue with existing power projects inherited from the previous administration.

Fashola made the promise after visiting some power projects in Abuja, as part of his nationwide inspection tour of existing projects under his ministry.

He said that the ministry would also be embarking on new policies and projects that will improve electricity power supplies.

According to the Minister, tariff is a major challenge that the government is also willing to address to open up the sector for investors who would want to add value to the sector.

He said that if the reviewed tariff regime is allowed to stay, it will encourage more investors.

Poor electricity supply is one major problem that successive governments in Nigeria have not been able to address but Mr Fashola believes that the problem is surmountable.

The Nigerian Electricity Regulatory Commission (NERC) has announced a new electricity tariff (MYTO 2015) regime scheduled to take effect from February 1, 2016.

Under the new regime, residential consumers with single phase meter who are presently paying N15 per kilowatt will start paying N24, while residential consumers with three phase meter will pay N25 per kilowatt.

•Photo shows Fashola

Source News Express

Posted 30/01/2016 05:35:53 AM

 

 

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