Electricity Tariff Hike is Attracting Investors to Power Sector - Minister, Bayo Adelabu

Amid calls for the reversal of the Band A tariff hike, the Minister of Power, Adebayo Adelabu, has stated that the policy is attracting local and foreign investors to the power sector.

The minister disclosed this recently when he launched a mobile substation in the Ajah area of Lagos State.

He said the investors included bankers, who had been avoiding the power sector due to a lack of liquidity.

According to Adelabu, the investors are coming back after they got information about the tariff increase that applies to 15 per cent of Band A customers.

“The revised tariff has led to renewed interest of investors in Nigeria’s power sector. This is a very good thing.

“All those people that have been running away from the sector, in terms of local and foreign investors; all the bankers that could not touch the sector with a long pole, they are now coming back, and they are interested in investing in the power sector; just because of the little increase we did for a small percentage of our electricity consumers,” Adelabu disclosed.

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Posted: at 9-05-2024 07:18 PM (1 week ago) | Addicted Hero

Foooool. Clueless Minister

Posted: at 9-05-2024 08:14 PM (1 week ago) | Upcoming

Really?? Did this clueless man just said "little increment"?? You people took something from #66 to #255 and you call it little??? If clueless had a face

Posted: at 9-05-2024 09:30 PM (1 week ago) | Hero