Tag: Tariff hike

FG denies electricity subsidy removal, promises improved power supply

Aminu Imam
FG denies electricity subsidy removal

The Federal Government has dismissed reports that it has removed electricity subsidies or is planning to increase electricity tariffs, assuring Nigerians that support for vulnerable consumers will remain in place, while comprehensive reforms are implemented to improve power supply across the country. Speaking during an interactive session with newsmen in Lagos yesterday, the Minister of Power, Joseph Tegbe, clarified that the government had not abolished electricity subsidies, contrary to widespread speculation. “I did not say the subsidy is gone. We are addressing the issue, and by next year, we will…

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Wale Edun supports 50% telecoms tariff hike

Aminu Imam
Wale Edun on tariff hike

…Says inflation has increased Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has backed the 50% hike in telecom tariff, saying inflation should be reflected in the companies’ business operations. However, there have been tons of reactions from stakeholders since the increase was announced on Monday. While the telecoms firms say the increase ought to be higher than 50 per cent, labour unions and the National Association of Telecommunications Subscribers (NATCOMS) believe the deal favours the companies and puts the masses at a disadvantage. Edun stated on…

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FG suspends 15% import duty on petrol, diesel 

Aminu Imam
FG suspends

The Federal Government, under President Bola Ahmed Tinubu, has suspended the planned 15% import duty on imported Premium Motor Spirit (PMS), otherwise known as petrol, and diesel. The Director, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Public Affairs Department, George Ene-Ita, made this known in a statement yesterday. Ene-Ita said; “It should also be noted that the implementation of the 15 percent ad-valorem import duty on imported PMS and diesel is no longer in view”. NMDPRA also assured all that there is an adequate supply of petroleum products in…

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Electricity: Outrage, as FG hints at nationwide tariff hike

Aminu Imam
FG on tariff hike

Nigerians are outraged, as the Federal Government hints at a fresh electricity tariff hike to cut the country’s ₦4 trillion power sector debt. Minister of Power, Adebayo Adelabu, during a stakeholders’ meeting in Abuja, said that the government plans to phase out blanket subsidies and adopt cost-reflective tariffs, with targeted support only for the most vulnerable. However, many consumers and civil society groups say the planned increase is unjustifiable given persistent blackouts and poor service. Consumer advocate, Kunle Olubiyo, warned that raising tariffs without better supply would amount to “fleecing”…

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FG Impoverishment Policies: ‘73.3% of Nigerians reject electricity tariff hike, subsidy removal” – Poll

Aminu Imam
Nigerians reject tariff hike

73.3% of Nigerians have rejected the recent Federal Government’s electricity tariff hike, as well as its fuel subsidy removal, according to a recent poll. A recent poll by ‘BusinessDay’s April 2025 TalkExchange’ has revealed that most Nigerians are against the recent increase in electricity tariffs for high-usage consumers and the reduction of Government subsidies on electricity. The electricity tariff hike, with a 300% increase for Band-A customers, has sparked concern, as power remains unreliable.  The data reflects growing concerns over affordability, fairness, and the effectiveness of these reforms. Despite subsidy…

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MTN apologises to Nigerians over ‘mistakenly’ increasing data price

Aminu Imam
MTN Nigeria apologises

MTN Nigeria has apologised to customers amid outrage over the abrupt 200% increase in the price of its 15 giga-byte (GB) digital bundle plan. The telecommunications giant acknowledged that the hike was a mistake and appealed for forgiveness. In a statement posted on its official Instagram page yesterday, MTN admitted to miscalculating the pricing adjustment, and reassured customers of its commitment to better service in the future. It posted: “To our 15G digital bundle lovers: You dey vex. We know. We know how upsetting it must have been, to suddenly…

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Banks mull USSD charges over new telcos tariff hike

Aminu Imam
Banks mull USSD charges

Nigerian banks are considering passing USSD transaction costs to customers after telecom companies raised tariffs, citing inflation and operational expenses.  This move has sparked concerns over higher mobile banking costs, particularly for users without smartphones or internet access. Telecom firms, under the aegis of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), recently adjusted their USSD pricing, affecting banks that rely on the service for financial transactions.  USSD (Unstructured Supplementary Service Data), according to experts is a platform that enables bank customers to transfer money digitally using their phones…

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TUC rejects highway tolls, electricity tariff hike

Aminu Imam
TUC rejects highway tolls

…Threatens mass protest over FG’s policies The Trade Union Congress of Nigeria, (TUC), has strongly opposed the Federal Government’s plan to toll selected highways and the proposed electricity tariff hike, warning of possible mass protests. TUC President, Festus Osifo, condemned the tolling policy at the union’s National Administrative Council (NAC) meeting in Abuja, criticising the government for implementing policies without stakeholder consultations. He described tolling on unpaved and dilapidated roads as “shameless extortion”, insisting that roads must be repaired to international standards before any tolls can be considered. While the…

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Electricity: Nigerians to be hit by another tariff hike, after jumbo Band-A increase

Aminu Imam
power grid

Nigeria’s power prices need to rise by about two thirds for many customers to reflect the cost of supplying it and an increase can be expected within months, President Bola Tinubu’s Special Adviser on Energy said. Higher electricity tariffs, which need to be balanced by subsidies for less-affluent consumers, are required to fund the maintenance needed to improve reliability and to attract private investors into power generation and transmission, said the adviser, Olu Verheijen. President Tinubu has already taken a number of steps to ease the burden on state finances…

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Power Minister outlines fresh plans to raise electricity tariffs 

Aminu Imam
Electricity hike

The Federal Government has disclosed that it wants to attract up to $15 billion in private investments into the power sector.  The Government also unveiled plans to increase the electricity tariff for Nigerians, to reflect the full cost Nigerian government still spends trillions of naira on energy subsidy despite removing subsidy for Band-A subscribers last year. Although the Government removed subsidies for about 15% of urban households last year, tripling tariffs, authorities still spent N2.2 trillion on subsidies. However, the Government’s new plan aims to implement full-cost tariffs by 2027…

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