MINISTER of State for Power, Darius Dickson Ishaku, is convinced that the hike in electricity tariffs will attract foreign investments into the sector.
The minister, who visited Governor Gabriel Suswam of Benue State on Monday in Makurdi, said price adjustment was in line with the country’s electricity law. He added that the policy had both positive and negative impacts on the rural and urban consumers of electricity.
“Private homes will pay as low as N4 per kilo hour while commercial and industrial consumers will pay N10 per kilo hour. Without this adjustment, investors will not come into the electricity market. The sector has to be free for this to happen,” he stated.
Suswam lauded the Federal Government for sensitising Nigerians on the new price adjustment and charged the government to back the measure with steady power supply.