A Total Reversal, Reverse Electricity Tariff Cut Now, Demand Nigerians

On Monday, Nigerians are demanding a total reversal of electricity tariff cut - the Nigerian Electricity Regulatory Commission’s reduction of the tariff payable by Band A customers from N225/kWh to N206.8/kWh.

Organised labour, the Nigerian Bar Association and the House of Representatives, have also rejected the hike in tariff payable by about 1.9 million consumers.

Subsidy on electricity was withdrawn completely from the tariff of consumers in the Band A category, which constitutes about 15 per cent of the total 12.82 million power consumers across the country.

The Federal Government said it would save N1.5tn, as a result of the tariff hike, adding that Band A customers would enjoy up to 20 hours of power supply daily.

The government took the decision which became effective on April 3, 2024.

Organised labour has however issued a two-week ultimatum demanding the reversal of the tariff hike. The House of Representatives has called on the NERC to suspend forthwith the implementation of the new electricity tariff nationwide.

The Minister of Power, Adebayo Adelabu argues that there would be a nationwide blackout in the next three months if the increase in electricity tariff was not implemented.

He defended the action, while insisting that the increase should remain. He made his defence known at an investigative hearing held by the Senate Committee on Power last week.

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Big Brother, Pere Egbi - A Car Is Not An Investment

Big Brother Naija reality show star, Pere Egbi, has explained that he doesn’t own a car because it isn’t an investment. Pere Egbi He berated those who squander their money on exotic cars, stressing that landed properties and businesses are assets but not cars. Speaking in the latest episode of the Spill With Phyna podcast, Pere said, “Car no be investment. A house is an asset, a business is an asset. Using all your savings to buy cars is unnecessary. Right now, I don’t own a car. I used to drive a brand new lexus LS570 but I sold it because I needed to put the money into my film. It’s an investment. At the end of the day, I made more that from the film.” What do you think of Pere's mindset on acquiring cars?

Inspiration

Be Inspired! A very poor woman called a radio station asking for help from God. A non-believer who was also listening to this radio program decided to make fun of the woman. He got the woman's address from the radio station and told his secretary to carry a large amount of foodstuff to the woman. However, he gave the following instruction; "When the woman asks who sent the food, tell her that it's from the devil." When the secretary arrived at the woman's house, the woman was happy and grateful for the help received. She started putting the food packets inside her small house. The secretary then asked her, "Don't you want to know who sent the food?" The woman replied, "No, I don't care... because when GOD orders, even the DEVIL obeys! Have a blessed day ahead. 🤣😅🤣😅🤣😅🤣 Image: iStock

The CBN Reverses Its Decision And Sets New Limit On New Naira Note Withdrawal

The Central Bank of Nigeria had initially stopped the withdrawal of the new Naira notes over the counter, directing commercial banks to instead dispense the cash through their Auto Teller Machines (ATM) to the public. Thursday, 2, February 2023, the apex bank has now backtracked on that decision, it is informing the commercial banks to resume over-the-counter withdrawal of the new N200, N500 and N1,000 notes. The Central Bank of Nigeria, has set a new directive of a maximum daily payout limit of N20,000, consisting of redesigned Naira notes, to each customer. “In line with this resolve, the Governor, Mr Godwin Emefiele, has directed deposit money banks (DMBs) to commence the payment of the redesigned Naira notes over the counter, subject to a maximum daily payout limit of N20,000. “We also admonish members of the public to embrace and adopt other payment channels for their transactions. “The Naira is our legal tender and symbol of national pride. Therefore, let us resp...

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