Professor Jideofor Adibe says the National Chairman of the Independent National Electoral Commission (INEC) Mahmood Yakubu should have resigned in the wake of the 2023 elections.

Nigerians went to the polls earlier in the year to elect their president, governors, and national and state lawmakers. But the exercise, especially the presidential election, was heavily criticised by local and foreign bodies.

The criticisms were enough for the INEC chief to have stepped aside, according to Adibe.

Adibe (left) says INEC has lost credibility among Nigerians.

“I think I have this several times even in 2019. INEC cannot deliver anything now because it has a legitimacy crisis,” the professor of political science said on Channels Television’s end-of-year show, “2023: Year Of Transition”.

“The first thing that should have been done is for Professor Mahmood to go. In climes where honour means anything, even if you feel you have done your best, to the extent that international and local observers have condemned and heavily criticised the conduct of the election, the best thing you should do is to step aside. His life does not need to depend on it. You step aside for the sake of the integrity of that institution. And for as long as it remains, I don’t think anybody will think they can get anything from INEC.”

The Nigeria Labour Congress (NLC) has demanded that the government and employers in the private sector must give better attention to the issue of workers’ welfare in the year 2024.

The NLC declared that it will ensure all the entitlements that belong to workers in the country get to them accordingly.

This vow was made by the NLC president, Joe Ajaero, in his New Year message to Nigerians.

Ajaero berated the federal government for allowing workers to go hungry during the Yuletide season by denying them the benefit of their hard-earned December 2023 salary.

He vowed that the NLC will ensure workers get a living wage in the year 2024 by engaging with the government and all other stakeholders to secure the National Minimum Wage.

The statement reads in part: “To this end, NLC will be committed in 2024 towards ensuring that a living wage becomes possible for all Nigerian workers by working with others to secure a National Minimum Wage that approximates to the dictates of the various parameters that make incomes humane and grants access to basic necessities of life for the average worker.

“We will recommit to building workplaces that guarantee the rights and privileges of workers while building the basis for continuous wealth creation for our nation. All actions that will, therefore, ensure that decent work gaps are reduced to their barest minimum will be encouraged.

“We will, therefore, strengthen our collaboration with the Federal Ministry of Labour, Nigeria Employers Consultative Association (NECA) and the Trades Union Congress (TUC), using the tripartite process to regulate the industrial relations space and ensure that the reviewed labour administration laws are forwarded to the National Assembly for passage into law.

“From every indication, 2024 will be an interesting year; interesting because it will witness a period where all that has been taken away from workers will be restored. Any private sector employer or agency of government that is, therefore, owing any Nigerian worker anywhere should be ready to pay up in 2024…”

The political crisis rocking Rivers State yesterday took a new twist with Ehie Ogerenye Edison, the recognised Speaker of the state House of Assembly tendering his resignation, while also quitting as a member of the State House of Assembly.

TheNigeriaLawyer gathered that Edison’s notice of resignation was contained in a letter dated December 29, 2023 and addressed to the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu.

Edison resigned as a member representing Ahoada East in the Assembly and also the speaker of a group of lawmakers.

Prior to this, Edison was the court recognised speaker loyal to Governor Siminalayi Fubara.

The letter reads: “This is to formally notify you of my voluntary resignation as Speaker and Member of the 10th Rivers State House of Assembly representing Ahoada – East Constituency II with effect from the date of this letter.

“I wish to deeply appreciate my colleagues and the people of my Constituency for the rare opportunity to serve and hope to continue to give my utmost best in service to Rivers State subsequently.

“Kindly accept the assurances of my highest esteem at all times.”

Recall that that this development might not be unconnected with the resolution reached by the governor and his political godfather, Nyesom Wike, brokered by President Bola Tinubu.

The president in the 8-point resolution directed that Martins Chike Amaewhule be recognised as the speaker of the House while the actions taken by Edison such as budget presentation be repeated

Recall that a State High Court sitting in Port Harcourt, had recently recognised Ehie as the Speaker and restrained Martin Amaewhule and Dumle Maol from parading as the Speaker and Deputy Speaker of the State House of Assembly.

The court presided by Justice M.W Danagogo also restrained the respondents in the matter from interfering with the activities of Edison Ehie as the new Speaker.

In the motion filed by Edison Ehie and registered in suit number PHC/3030/CS/2023, the court also warned against the use of thugs and Police officers to forcefully gain access into the premises of the Assembly Complex.

The judge further warned that if the application turns out to be frivolous, the claimant (Ehie) will be made to pay the sum of N50million as damages to the court.

The matter was adjourned to December 21, 2023 for motion on notice and subsequently adjourned till January 26, 2024 for hearing.

Nigerians have been enjoined to be more positive about the new year as President Bola Ahmed Tinubu, state governors, political parties and other leaders have pledged to play their constitutional roles to make Nigeria more peaceful and prosperous in 2024.

In separate messages to the citizens to herald the New Year today, Tinubu and the governors enumerated the policies and programmes in the outgone year to set the country and their states on the part of development.

Tinubu asserted that since he came into office seven months ago, he had taken drastic decisions to save the country and address its numerous challenges.

In his nationwide broadcast this morning to Nigerians to usher in the New Year, the president acknowledged that 2023 was a transitional year that saw a peaceful transfer of power to his administration.

He reiterated his commitment to revamp the economy, restore security, boost agriculture and set Nigeria on a path to national greatness.

Tinubu admitted that some of his decisions, like fuel subsidy removal and changes to the foreign exchange system, brought discomfort to many. However, he stated they were necessary to save Nigeria from fiscal catastrophe.

Tinubu sympathised with citizens over the high cost of living and inflation and promised that his administration is now poised to accelerate service delivery across sectors.

Parts of his speech read: “The task of building a better nation and making sure we have a Nigeria society that cares for all her citizens is the reason I ran to become your President. It was the core of my Renewed Hope campaign message on the basis of which you voted me as President.

“Everything I have done in office, every decision I have taken and every trip I have undertaken outside the shores of our land since I assumed office on 29 May, 2023, have been done in the best interest of our country…

“I am well aware that for some time now the conversations and debates have centred on the rising cost of living, high inflation which is now above 28% and the unacceptable high under-employment rate.

“From the boardrooms at Broad Street in Lagos to the main-streets of Kano and Nembe Creeks in Bayelsa, I hear the groans of Nigerians who work hard every day to provide for themselves and their families.

“I am not oblivious to the expressed and sometimes unexpressed frustrations of my fellow citizens. I know for a fact that some of our compatriots are even asking if this is how our administration wants to renew their hope.

“Dear compatriots, take this from me: the time may be rough and tough, however, our spirit must remain unbowed because tough times never last. We are made for this period, never to flinch, never to falter.

“The socio-economic challenges of today should energize and rekindle our love and faith in the promise of Nigeria. Our current circumstances should make us resolve to work better for the good of our beloved nation.”

The president urged all Nigerians to resolve that in this New Year 2024, every one of them will commit to be better citizens.

He highlighted initiatives like freeing captives from abductors and working towards peace and security nationwide.

Tinubu also laid out his economic and social agenda for 2024.

He highlighted plans to improve electricity, fuel refining, food production, business environment, wages and standard of living.

On power, Tinubu revealed that he had agreed with German Chancellor Olaf Scholz in December to accelerate the Siemens electricity project under the Presidential Power Initiative.

He said other projects are also ongoing to boost the national grid.

“My administration recognises that no meaningful economic transformation can happen without steady electricity supply,” Tinubu affirmed.

He further stated that local refining of petroleum will restart this year with the Port Harcourt refinery and Dangote refinery.

To ensure food security, he said the government will cultivate 500,000 hectares for crops like rice and wheat.

Tinubu promised to simplify fiscal and tax policies to aid business competitiveness.

He invited more foreign investment, vowing to remove obstacles investors face in Nigeria.

The president’s eight priority areas in the 2024 budget include security, job creation, stability, human capital development and poverty reduction.

He pledged that a new national minimum wage will be implemented this year to improve workers’ remuneration just as he warned that his appointees who underperform will be removed after evaluation.

He outlined plans to close inequality gaps and give every Nigerian the opportunity to thrive through hard work.

Tinubu called for national unity, inviting opponents to work for Nigeria’s progress. He wished Nigerians a happy 2024, urging citizens to play their role in building a prosperous country.

“We will work diligently to make sure every Nigerian feels the impact of their government. The economic aspirations and the material well-being of the poor, the most vulnerable and the working people shall not be neglected,” he stated.

In his own New Year message, Kwara State Governor AbdulRahman AbdulRazaq urged the people of the state to work with the administration to promote sustainable development and a more fulfilling new year.

In a New Year message signed by his chief press secretary, Rafiu Ajakaye, the governor assured that the government will continue to deliver on its core mandate of ensuring safety of lives and properties, maintaining law and order, and providing basic amenities and infrastructure within available resources.

His Ogun State counterpart Prince Dapo Abiodun said the state would witness unprecedented infrastructure development this year.

In a statewide broadcast yesterday, Abiodun called on the people of the state to embrace this year, 2024, with renewed hope as his administration is working hard to make life bearable for them.

He said, “We have prioritized the provision of the required infrastructure, particularly in the transportation sector. We have constructed or rehabilitated over 500 kilometres of roads across the state, thus ensuring improved transportation and connectivity. Our commitment to equitable development is evident, as these works are spread across our 20 Local Government Areas in the state.”

Similarly, Katsina State Governor Umar Dikko Radda expressed his administration’s commitment to the fight against banditry and other related crimes in 2024.

The governor, in his New Year message, issued by his chief press secretary, Ibrahim Kaula, acknowledged the strong passion of the people in the face of challenges bedevilling the state, assuring of his commitment to tackling the challenges affecting the state.

2024 will be a better year – Speaker Abbas

The speaker of the House of Representatives, Hon. Tajudeen Abbas has congratulated Nigerians as they celebrate the New Year, saying 2024 promises to be a better year for the citizens.

Abbas, in his New Year message, said with the Renewed Hope Agenda of the President Bola Ahmed Tinubu administration, and the Legislative Agenda of the 10th House, Nigeria is about to witness massive growth and development.

The speaker in a statement by his special adviser on media and publicity, Musa Krishi, however, noted that for the country to be great again, the people must support the policies, projects, and programmes of the government at all levels and in all ramifications.

He, therefore, urged Nigerians not to only pray for their leaders but also work with them towards having a better country.

Tinubu Committed To Fulfilling His Campaign Promises – APC

The governing All Progressives Congress (APC) has described 2024 as a year for the crystallisation of hope for a more prosperous future for the country.

AIn a statement signed by the party’s national publicity secretary, Felix Morka, APC applauded the people for all the patriotic sacrifices made for the peace and unity of the country, economic stabilisation and progress.

He said the APC administration of President Bola Ahmed Tinubu remains resolute in its commitment to making good its electoral promises to create and expand access to economic opportunities, improved service delivery and security and usher in balanced and sustainable development.

“We owe a debt of gratitude to President Tinubu for his forthright and inspiring leadership of our Party. We appreciate the National Assembly leadership, the APC Legislative Caucus, the Progressive Governors’ Forum (PGF), the National Executive Committee (NEC) of the Party, our strategic and development partners, and the press for their leadership and support in the outgoing year,” it said.

Gear Up To Resist Fascist Policies, PDP Tells Nigerians

Meanwhile, the opposition Peoples Democratic Party (PDP) has urged Nigerians to brace up to use every legitimate means to resist all fascist tendencies and defend the nation’s constitutional democracy from totalitarianism.

The party, in its 2024 New Year message, also called on the international community to assist in the sustenance and support for democracy in Nigeria “given the huge humanitarian crisis with potential negative consequences on the stability of West Africa, Africa and indeed the world should democracy fail in Nigeria.”

The national publicity secretary of PDP, Hon Debo Ologunagba, urged the citizens to say no “to anti-democratic actions and policies of the President Bola Ahmed Tinubu-led All Progressives Congress (APC) administration which are so far tilted towards the institutionalisation of corruption, crippling of democracy institutions and sabotaging of national productivity which the PDP had earlier alerted is consistent with APC’s scheme to weaponise poverty and suppress Nigerians to surrender to totalitarianism.”

“Such assault on Democracy Institutions including the emasculation of the National Assembly to prevent it from playing its Constitutional role of holding the Executive accountable; the compromising of the Independent National Electoral Commission (INEC) by the appointment of card-carrying APC members as Resident Electoral Commissioners and alleged attempts to also compromise the Judiciary and anti-corruption agencies are all pointers to emerging totalitarianism,” it said.

The party urged Nigerians and the civil society to condemn the recklessness and lack of transparency of the APC administration that has led to the collapse of the Naira, the alleged massive looting of funds including proceeds from the removal of subsidy on petroleum products; the skewing of the 2024 budget in favour of luxury appetite of the Presidency and APC leaders without concrete policies and programmes to revive the economy, create jobs and address the comatose manufacturing and productive sectors.

Cautions Against Turning Nigeria into One-Party State

The presidential candidate of the Labour Party (LP), Mr. Peter Obi, has said Nigerian politics must not be left in the hands of transactional politicians.

“Nigeria is our God-given country. The business of Nigeria is far too important to be left to those involved in transactional politics. I am involved in the struggle for a new Nigeria that is possible and works for all and will remain passionately committed to the crusade. I, therefore, implore you all who strive for a new Nigeria to remain fully engaged, committed, and resilient as it is and will be possible.”

The standard bearer of the LP also warned that it was dangerous to tilt the nation to a one-party state, saying it must be resisted.

The former Anambra State governor lamented the security situation of the country, adding that the economy remained confusing and depressing with unemployment, inflation, poverty, inequality, and other key socio-economic variables all negative and worsening.

He said: “As Nigeria is the only country we have, deeply endowed but lacking in good leadership, we will continue to seek a new Nigeria that we know is possible.

“I am involved in the struggle for a new Nigeria that is possible and works for all and will remain passionately committed to the crusade. I, therefore, urge you all who strive for a new Nigeria to remain fully engaged, committed, and resilient as it is and will be possible.

“My fellow compatriots, as we thank God and enter a new year, 2024, I send my heartfelt and warmest greetings to all Nigerians: from my family and I, to you and yours. May the Almighty God bless you all richly and grant your good heart desires in the new year and beyond.

“The events of the past year are now part of our national history. As we trudge on, we remain mindful of the state of our nation, and that our best hopes and aspirations remain largely unfulfilled.

“Peace and security continue to elude us with the rising level of bloodletting, deeply troubling and sometimes beyond a war situation. A situation where hundreds of Nigerians are violently killed in December alone is deeply sad and unacceptable. While we pray for the repose of the souls departed, we demand the Federal Government must do whatever is required to bring the perpetrators to justice and permanently stop a re-occurrence in any part of Nigeria.

“Nigerians are now very aware and convinced that good governance, inclusive development, and accountable leadership expected in a functional democracy, continue to elude us but we must be consistent and resolute in our demand for rule of law, regulatory quality, and government effectiveness for transformative solutions to a litany of our social problems.”

Obi reviewed the political situation in the country in the outgoing year and said: “If there is one fundamental threat to our democracy, it is the undermining and weakening of our national institutions and the capture of state affairs and resources by few individuals and private interests. This must stop for Nigeria to move forward and function as an inclusive and sustainable society and nation.

“In a democratic and secular country like ours, there must be full respect for the separation of powers between the three independent arms of government, as well as between the federating units. For instance, the National Assembly should devote time and commit themselves to diligent performance of their functions like the 2024 budget that requires their prudent examination and subsequent patriotic-oriented approval or rejection.

“We must work assiduously to avoid drifting to a one-party state, or a situation, where the Federal Government intervenes unduly in the internal affairs of the states, particularly in circumstances where national security is not threatened.”

We in the Labour Party have undertaken in the national interest and in our undying commitment to a new Nigeria that is possible, to remain firmly in opposition and as such, must remain focused going forward. Our collective role in nation-building remains fundamental and obligatory.”

The immediate past Minister of Interior and ex-Osun State governor, Rauf Aregbesola, has told his supporters that before the end of the year 2024, they would know where his interest in Osun politics lies.

Aregbesola spoke in Ilesa, Osun State at an end-of-the-year thanksgiving organised by the Omoluabi Caucus, attended by many leaders of the group across the state.

A video capturing Aregbesola’s speech at the event was shared on Facebook by one Lekan Arogundade.

The ex-governor narrated how his efforts to ensure that the All Progressives Congress approached the 2022 governorship election as a united party was frustrated.

Aregbesola said ahead of the election, which then-Governor Gboyega Oyetola of the APC lost to the Peoples Democratic Party’s Ademola Adeleke, he (Aregbesola) met with representatives of the APC ‘overall leader’ on how appointments should be shared.

Aregbesola, however, said the ‘overall leader’ of their party failed to fulfill the agreements.

He said he stayed away from the 2022 Osun APC governorship campaign, following the declaration by a leader of the campaign organisation that anyone not invited should not bother to come.

Speaking in Yoruba language, Aregbesola further said, “I have not said this before. On August 26, 2021, our overall leader told us to meet two of his representatives in Abuja.

“Thirty-one people from my group met with the representatives of our overall leader. The meeting started around 10 pm and ended at about 4 a.m. I was not part of the meeting. But they agreed that those pushed out of the party should be reintegrated.

“Those at the meeting also agreed that those in government then were more and because of that, in both appointive and elective posts that were still vacant, they should give our own side one-third while they take two-thirds.

“The representative of our overall boss was impressed. I told him whatever my people had told them, I agreed to it. But I gave them some conditions that I will not reveal now if they want me to come and campaign during the governorship election. But we never heard anything again about that agreement to date.

“The leader of their governorship campaign said on OSBC that anybody who was not invited should not come for the campaign. So, I had to stay away. No true Yoruba man would hear such a declaration and will still go to where he was not invited.

“They didn’t stop at that. They went on a campaign of calumny against me. It was after they failed that they started looking for where to lay the blame. They are shameless.

“They ate their words. By their second year in office, they said it was because they were relating to me that made them not win on the first ballot during the (2018 governorship) election. In November 2020, they said we had Ebola (to avoid a relationship with us). They said we didn’t pay workers’ salaries and pensions. I wanted to come for the second anniversary (of Oyetola in office), but we were told people didn’t want to see us.”

Speaking on his plans regarding politics in the state, he said, “We are unperturbed. God will judge each one of us on the role we play in the matter. I deliberately speak about it today because people are just muddling up issues. But by the grace of God, by this time in 2024, you will know where we are heading. It will be clear to everyone where Osun people are heading.”

The Port Harcourt Refinery is still undergoing testing and has not commenced commercial operations despite expectations of resuming production in December 2023 after repairs.

According to NNPC spokesperson Olufemi Oladapo Soneye, test running is ongoing to ensure all components like pipelines are in perfect condition before crude oil supply and refining starts.

The refinery rehabilitation project, which has taken over two years, was over 84% mechanically completed as of mid-December, according to NNPC CEO Mele Kyari. The target was to finish repairs on the key Area 5 plant and flare up by December 31.

While NNPC declared the project had reached mechanical completion, the current testing indicates that full functioning has not yet begun. No timeline was provided on when crude supply and production might start.

The readiness checks are meant to guarantee smooth functioning before refining activities commence. NNPC board chairman Pius Akinyelure previously expressed optimism that maximum production levels would keep petroleum prices stable and raise revenue.

Industry experts say the delay shows the complexity of refinery repairs. Getting the plant to reliably process crude oil into petroleum products has been an arduous process despite billions spent on rehabilitation.

Successful revival of the Port Harcourt refinery, Nigeria’s largest, is seen as crucial for taming fuel importation. But the country eagerly awaits the refinery’s full production resumption amid growing skepticism.

Salihu Lukman, the immediate past National Vice Chairman of the All Progressives Congress (APC) in North-West has asserted that the National Chairman of the party, Abdullahi Ganduje, is not making any impact.

Lukman who spoke during an interview with Punch said that Gaduje is almost acting like the former Chairman of the party who resigned a few months back, Abdullahi Adamu.

He, however, said Gaduje does not engage with party stakeholders or have productive meetings even when people pay him courtesy visits.

Lukeman added that the former governor of Kano state is not meeting all the obligations the constitution has imposed on him as the party’s national chairman.

He said, “Well, we removed Abdullahi Adamu and brought in Ganduje. But Ganduje is just sitting, almost behaving like Adamu. I am sorry, with due respect to him. No meeting is taking place.

“Sometimes you see people paying courtesy visits. It doesn’t amount to meeting all the obligations the constitution has imposed on him as the national chairman of the party. I think these are the issues.

“If today, our judiciary and our law enforcement agencies are working in such a way that they enforce the law as provided in both the constitution and all laws of the country, some of the rascality going on will not take place.

“But when people believe they have the protection of somebody, which is why people will say Asiwaju should intervene in every crisis. I think this is just where we are.”

Yoruba Nation activist, Sunday Adeyemo, alias Sunday Igboho, has described as misleading the categorisation of the agitation for the Yoruba Nation as part of the threats to Nigeria’s peace.

He was reacting to a remark credited to the Director of Defence Media Operations, Maj Gen Edward Buba, who listed the Yoruba self-determination movement as a threat to the peace in the South-West zone.

The PUNCH reports that Buba, while addressing defence correspondents in Abuja on Friday on the activities of the Armed Forces of Nigeria, claimed that security threats in various geopolitical zones differ, pointing out that the major threat in the South-West remained the Yoruba Nation agitators.

But Igboho, in a statement he signed and made available to newsmen in Ibadan, Oyo State, said the Federal Government under the leadership of President Bola Tinubu should disregard such security report, which he described as blackmail.

“We are conscious of the noble efforts of the Armed Forces of Nigeria to tackle terrorism, banditry, kidnapping and other forms of criminalities. But we take exception to the wrong and baseless position of the Director of Defence Media Operations, Buba, for identifying the Yoruba Nation agitators as a major threat to the peace in the South-West.

“This is not only far from the truth but also a flimsy excuse, which showcased the failure of the military to tackle the menace of insecurity, which threatened the peace in Nigeria, most especially during the immediate past regime of President Muhammadu Buhari.

“Apart from the ignoble and vicious attacks on some states in the North, most especially in the North-East, by the Boko Haram terrorists, bandits were controlling some local governments in some parts of the North during Buhari’s administration, collecting levies and other forms of revenues unhindered. The military could not do anything tangible to stop this act of threat against the territorial integrity of the nation.”

He alleged that rather than eliminate terrorists, the military “is chasing shadows and wrongfully accusing Yoruba Nation movement of threat to peace in the South-West.”

“This is just a figment of their own imagination, which should be ignored by discerning Nigerians and other relevant stakeholders,” he said.

The Nigerian Electricity Regulatory Commission (NERC) has officially cleared the air, dismissing widespread rumours of an increase in electricity tariffs starting January 1st, 2024.

Reports have been rife that Nigeria’s electricity distribution companies (DisCos) are planning to increase electricity tariffs nationwide with effect from January 1, 2024.

According to the reports, “All has been perfected for the new tariff to take effect from the first of January, 2024”.

Another report said “NERC held a meeting with all DisCos this morning. They are going to reset tariffs Monday morning 01st January. Consumers should expect tariffs to double.However, when contacted NERC spokesman, Dr. Usman Arabi, told LEADERSHIP that the tariff hike rumours was fake news.Also, he categorically denied any approval for such a tariff hike, emphasising that the electricity tariff order currently in effect remains unchanged.“NERC has not issued any order to DisCos concerning tariff hike; we usually have meetings with all stakeholders before any proposed increase, but we’ve not had any meeting with any DisCos concerning price increase,” Abba said BusinessDay, on Sunday afternoon.Recall that in November, 2023, the minister of Power, Adebayo Adelabu, said that President Bola Tinubu stopped the implementation of a hike in electricity tariff and insisted that subsidy be paid on power consumed nationwide.

Adelabu said then that “Tariffs should have been raised months back, but Mr President said until we are able to achieve regular and incremental power supply we can’t touch the tariff.”But for political reasons and empathy, you cannot cause additional burden on Nigerians. We just had the removal of the fuel subsidy, we are talking about the exchange rate skyrocketing, galloping inflation and so many others that bring hardship to the people.”And Mr President is trying to relieve this hardship through various forms of palliatives. So it is not politically expedient and reasonable to now implement a tariff that is more like dumping the existing tariff.We are now paying about N70 (per kilowatt-hour), and it can never be less than N130 or N140 at the exchange rate of today if we are to implement a cost reflective tariff. Because part of the reasons for an increased tariff is the price of gas, which is paid in dollars,” Adelabu stated.

Experts said the above development indicates rising electricity subsidies for Africa’s biggest economy.Adetayo Adegbemle, the executive director of PowerUp Nigeria, a power consumer advocacy group said bridging the gap between the cost-reflective tariff and the allowed tariff, has become a significant burden on government finances, raising concerns about its sustainability.

“The electricity subsidy in Nigeria has become a financial burden and is no longer sustainable. Urgent action is needed to address the disparities in subsidy distribution, prevent further strain on government finances, and redirect resources to areas where they can have a more significant impact,” Adegbemle said.NERC’s quarterly reports indicated that electricity subsidies gulped N204.59 billion in the third quarter of 2023 and N135.23 billion in Q2, which is substantially higher than the N36.02 billion in Q1 2023.

“The Multi-Year Tariff Order (MYTO) in 2022 to gradually eliminate the subsidy. However, challenges arose with the freeze on tariff reviews in July 2023, disrupting the progress made in phasing out the subsidy,” Adegbemele said.Recall that on 25 June 2023, Abuja DisCos, in a note to its customers, had informed of an increase in electricity tariff effective 1 July.

The DisCos statement suggested that the tariff increase is a response to the floating of the naira and aims to ensure that the electricity industry remains financially viable and sustainable in the face of currency challenges.The DisCos statement suggested that the tariff increase is a response to the floating of the naira and aims to ensure that the electricity industry remains financially viable and sustainable in the face of currency challenges.“Under the MYTO 2022 guidelines, the previously set exchange rate of N441/1 dollar may now be revised to approximately N750/1 dollar, impacting the tariffs associated with your electricity consumption,” Abuja DisCos said.However, on June ‪29 2023, Abuja DisCos informed its customers to disregard the publication saying it was yet to get approval to commence the tariff hike.“Dear Esteemed Customers, please disregard the communication circulating in the media regarding the review of electricity tariffs. Be informed that no approval for such increments has been received,” the company said in a Twitter post.The MYTO is a framework NERC uses to determine electricity tariffs in Nigeria. It provides guidelines for a structured approach to calculating and reviewing tariffs to ensure transparency, cost recovery, and sustainability in the power sector.It provides a 15-year tariff path for the Nigerian electricity industry and undergoes regular reviews to account for changes in factors such as inflation, exchange rate, gas price and generation capacity.Major reviews are conducted every five years, during which all inputs are reviewed in consultation with stakeholders, while the minor reviews are done bi-annually, which involve collecting actual data from the National Bureau of Statistics, Central Bank of Nigeria and System Operations Unit of Transmission Company of Nigeria.In 2015, the average tariff across Discos and classes of end-users was N25 kilowatt. And on September 1, 2020, the average tariff was reviewed upward to N60 per kilowatt and later went up to N64 in 2022.The foreign exchange rate used in determining the 2015 tariff was N198.97/$. The local currency devalued to N383.80/$ in 2020 and further weakened to N441.78/$ in 2022. A dollar currently sells for over N750 at the official forex market.The inflation rate used in the 2015 MYTO was 8.3 per cent, accelerated to 12 per cent in 2020 and worsened to 16.97 per cent in 2022.