Browsing: Interviews

They wrote to us and said they want a new tariff because dollar has changed and so on and so forth. For a week in the whole of July of last year, we held rate case hearings which is in line with international best practices. We invited consumers to discuss the proposal by the DisCos.

So, we all pay subsidies and that is what the President removed. So, instead of going to these private pockets, Nigerian private pockets, the oil magnates, those who operate the industry, the President harvested the money and ploughed it into the treasury of the government. And that’s why most states are getting twice or even three times of what they used to get. So, you can see that money has gone into state treasuries, local government treasuries and also the national treasury and this money hitherto was going into private pockets. That’s the explanation I wanted every Nigerian to understand. But the subsidy regime now we are paying it’s still there. It may not be adequate, probably if it had been adequate, maybe the prices would have been forced down, but that which was removed was the one that was stolen money.