Several States in the country are once again, experiencing a scarcity of petrol, with consumers queuing for long hours at the few filling stations that have petrol available for sale. The price of the commodity has risen to over N700 per litre at some filling stations, despite the assurance by the Nigerian National Petroleum Corporation Limited (NNPCL) in a statement on April 25, that the prices of petroleum products remained unchanged and that supply issues had been resolved. The NNPCL again promised Nigerians that the scarcity issues would be fixed by Wednesday, May 1, 2024. <\/p>\n\n\n\n
The\nincrease in price is not exclusive to petroleum products. At the beginning of\nApril 2024, the Nigeria Electricity Regulatory Commission (NERC) approved an\nincrease in the electricity tariff of the supposedly premium category of\ncustomers (Band A), from N66 to N225 per kilowatt hour. The increase sparked an\noutrage among citizens, as electricity distribution companies (DISCOs)\nincreased the tariff across several customer categories, despite poor\nelectricity supply. However, NERC insists that only customers on Band A, who\nreceive a minimum of 20-hour electricity supply day should pay the new tariff,\nand ordered DISCOs to automatically downgrade any Band A feeder who receives\nless than 20 hours of electricity supply for seven consecutive days. <\/p>\n\n\n\n
The\nMinister of Power, Adebayo Adelabu, who appeared before the Senate Committee on\nPower on Monday, April 29, 2024 for an investigative hearing, reiterated the\nposition of NERC on the payment of the new tariff by only customers on Band A,\nwho enjoy a minimum of 20 hour of electricity supply. The purpose of the\nhearing was the need to halt the increase in electricity tariff by DISCOs amid\nthe biting economic situation in Nigeria. The Power Minister explained that the\nFederal Government will pay the sum of N2.9 trillion as electricity subsidy if\nthe tariff rate was not reviewed. <\/p>\n\n\n\n
Upon\nresumption of plenary on Tuesday, April 30, 2024, the House of Representatives\nin a resolution, ordered NERC to suspend implementation of the new tariff. It\nalso resolved to set up a Special Committee to organise a hearing on electricity price regulation. The resolution\nfollowed a motion by Representative Kama Nkemkanma (Ebonyi; APC) on the need to\naddress key issues surrounding the sudden hike in electricity prices in\nNigeria. <\/p>\n\n\n\n
Nigerians\nhave been grappling with the rising cost of goods and services which\nintensified after the removal of petrol subsidy and unification of foreign\nexchange rates. The situation has worsened as the prices of many commodities\nand services have risen astronomically while the naira continues to fluctuate\nin the foreign exchange market. In the midst of this, the earnings of\nindividuals have largely remained the same. <\/p>\n\n\n\n
On April\n30, the Federal Government announced the \napproval of a salary increase of 25% to 35% for civil servants on six\nConsolidated Salary Structures. The Federal Government also approved an\nincrease of 20% to 28% for persons on the six salary structures. <\/p>\n\n\n\n
Earlier,\nthe Edo State government announced a new minimum wage rate of N70,000 while in the\nLagos State government stated that it has been paying civil servants a wage\naward of N35,000 in addition to their salaries. \n<\/p>\n","protected":false},"excerpt":{"rendered":"
Several States in the country are once again, experiencing a scarcity of petrol, with consumers queuing for long hours at the few filling stations that have petrol available for sale. The price of the commodity has risen to over N700 per litre at some filling stations, despite the assurance by the Nigerian National Petroleum Corporation […]<\/p>\n","protected":false},"author":2,"featured_media":3560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-3553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/posts\/3553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/comments?post=3553"}],"version-history":[{"count":1,"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/posts\/3553\/revisions"}],"predecessor-version":[{"id":3561,"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/posts\/3553\/revisions\/3561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/media\/3560"}],"wp:attachment":[{"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/media?parent=3553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/categories?post=3553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/placng.org\/Legist\/wp-json\/wp\/v2\/tags?post=3553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}