Tag: IBEDC

Power crisis: FG turns to banks for $23bn lifeline

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In a bid to end age-long power woes, the Federal Government is in talks with commercial banks and other investors to fund its ambitious universal electricity access, which requires a whopping $23.2bn investment. It was reported  that Nigeria will require $23.2bn of aggregate investment to achieve the planned universal electricity access in five to 10 years, reaching 120 million people across 22 million households. It was gathered that $14.1bn of the cost is an upfront investment to which multiple stakeholders must contribute. The $14.1bn initial investment is 60 per cent…

Consumers kick as FG plans fresh power tariff hike

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The Federal Government is considering adjusting electricity tariffs to address disparities in the current billing system, particularly for customers outside the Band A category, aiming to enhance liquidity in the Nigerian Electricity Supply Industry. This proposed hike would align tariffs for Band B and C customers with the N206/kW rate paid by Band A customers, who constitute about 15 percent of the nation’s 12.82 million power consumers. However, this plan has faced strong opposition from power consumers and the Organised Private Sector, who question the government’s continuous increase in commodity…

7 Shocking Mistakes That Are Raising Your Electricity Bill

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Many Nigerians are struggling with rising electricity bills, often wondering why their costs increase month after month. While various factors contribute to electricity pricing, many consumers unknowingly engage in habits that significantly inflate their energy consumption. Identifying and correcting these common mistakes is key to reducing energy usage and lowering your bills. Here’s a detailed look at seven frequent culprits: The Phantom Drain of Plugged-In Appliances: A common misconception is that turning off an appliance completely eliminates its energy draw. In reality, many devices continue to consume small amounts of…