Trending Africa
No Result
View All Result
Thursday, February 25, 2021
  • Login
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
  • World
  • News 24
  • Egyptian Streets
  • Politics Nigeria
  • The South African
  • Tech
  • The Nation
Subscribe
Trending Africa
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
    • Home – Layout 4
    • Home – Layout 5
  • World
  • News 24
  • Egyptian Streets
  • Politics Nigeria
  • The South African
  • Tech
  • The Nation
No Result
View All Result
Trending Africa
No Result
View All Result
Home Politics Nigeria

Lai Mohammed accuses PDP, others of politicizing Electricity, Petrol price hike

by trendingafrica
September 7, 2020
in Politics Nigeria
0
Lai Mohammed accuses PDP, others of politicizing Electricity, Petrol price hike
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


The Minister of Information, Lai Mohammed, has accused the Peoples Democratic Party, PDP and other opposition parties of politicizing the new electricity tariff and increase in petrol price.

Mohammed, who made the accusation at a press conference on Monday in Abuja, noted that the federal government is not insensitive to the plight of Nigerians as claimed by the opposition parties.

He noted that the increased the pump price of petrol because it could no longer afford fuel subsidy due to the drop in the country’s revenue and foreign exchange earnings.

The minister explained that subsidising petrol is no longer feasible owing to the prevailing economic conditions, adding that the government is not insensitive to the plight of Nigerians.

He said petrol price in Nigeria remains the lowest in West Africa with N162/ litre, adding that Ghana, Benin Republic and Togo sell petrol at N322, N359 and N300 per litre respectively.

Mohammed said: “The opportunistic opposition and their allies are playing dirty politics with the issue of petrol pricing and electricity tariff. Please note that these naysayers did not complain when the price adjustment led to lower petrol prices on at least two occasions since March.

“Yet, the government has had to sustain expenditures, especially on salaries and capital projects. One of such difficult decisions, which we took at the beginning of the COVID-19 pandemic in March – when oil prices collapsed at the height of the global lockdown – was the deregulation of the prices of PMS.

“As I said earlier, the benefit of lower prices at that time was passed to consumers. Everyone welcomed the lower fuel price then. Again, the effect of deregulation is that PMS prices will change with changes in global oil prices.

“This means quite regrettably that as oil prices recover, there will be some increases in PMS prices. This is what has happened now.”

Speaking on the increase in electricity tariff, the minister said the new tariff is for the industry to be able to sustain itself.

“The truth of the matter is that due to the problems with the largely-privatised electricity industry, the government has been supporting the industry,” he said.

“To keep the industry going, the government has so far spent almost 1.7 trillion naira, especially by way of supplementing tariffs shortfalls.

“The government does not have the resources to continue along this path. To borrow just to subsidize generation and distribution, which are both privatized, will be grossly irresponsible.”



Read the original article on Politics Nigeria

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
Turning Dreams to Reality: 4 of the Top Fields for Thriving Startups in Egypt

Turning Dreams to Reality: 4 of the Top Fields for Thriving Startups in Egypt

February 25, 2021
Joe Biden sworn in as US president,tells Americans to end ‘uncivil war’

1 in 6 Americans under 23 say they’re LGBTQ – Gallup poll

February 25, 2021
We will starve Kagara students to death if you don’t pay ransom – Bandit says in tape released by Gumi

We will starve Kagara students to death if you don’t pay ransom – Bandit says in tape released by Gumi

February 25, 2021
COVID-19: Edo records 10 new cases, 4 deaths

COVID-19: Edo records 10 new cases, 4 deaths

February 25, 2021

Recent News

Turning Dreams to Reality: 4 of the Top Fields for Thriving Startups in Egypt

Turning Dreams to Reality: 4 of the Top Fields for Thriving Startups in Egypt

February 25, 2021
Joe Biden sworn in as US president,tells Americans to end ‘uncivil war’

1 in 6 Americans under 23 say they’re LGBTQ – Gallup poll

February 25, 2021

Categories

  • Ahram Online
  • City Voice Newspaper
  • Egyptian Streets
  • General News
  • News 24
  • Politics Nigeria
  • Super Sport
  • The Nation
  • The South African

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
Trending Africa

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5
  • World
  • News 24
  • Egyptian Streets
  • Politics Nigeria
  • The South African
  • Tech
  • The Nation

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In