The Senate has said it would not allow any hike in the price of electricity that may add to the current suffering of Nigerians.
It could be recalled that the Minister of Power, Adebayo Adelabu, recently disclosed at a press conference in Abuja that Nigeria was not likely to sustain the current electricity subsidy.
He explained that the indebtedness of the country’s power sector to electricity-generating companies (GenCos) and gas companies (GasCos) had risen to over N3tn.
The Power minister added that what the country made provision for in the 2024 budget for subsidy is N450 billion and will require N2.9tn for subsidy an expenses which the country cannot afford at the moment.
Responding to the minister and the planned increase in electricity hike, the Senate spokesperson, Yemi Adaramodu, said a minister can say a thing based on his evaluation. Still, the onus doesn’t end at his doorpost.
Senator Adaramodu further assured Nigerians that the National Assembly particularly the Senate will protect their interests.
On the incessant increase in fuel prices, the Senate spokesperson noted that the Red Chamber was working on several reports, adding that once the reports were collated, the legislature would meet with the executive and advise accordingly.