As the Federal Government commenced the new electricity tariff Monday, the Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN has stated that the hike would galvanise and enhance economic growth in the sector.
Fashola, who spoke in Abuja on the Multi Year Tariff Order, explained that it was aimed at correcting the whole system in the entire value chain of the power sector and remained the most viable means to achieve steady power supply in the country.
The reviewed electricity tariff that commenced Monday discarded the fixed charges, while it increased per unit billing.
The Minister, also speaking, in statement from his Special Adviser on Communication, Hakeem Bello, explained that the ready acceptance of the new Tariff Order would also galvanise the sector and boost power sector investments which would in turn usher in more development in the country.
