PENGASSAN expreses concern over electricity tariff hike

Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), on Thursday, expressed concern over the recent policy of the federal government on the removal of subsidy on the electricity in the country.  The association also called on President Bola Ahmed Tinubu to relocate the military chiefs to the Niger-Delta region in order to halt […]

Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), on Thursday, expressed concern over the recent policy of the federal government on the removal of subsidy on the electricity in the country.

 The association also called on President Bola Ahmed Tinubu to relocate the military chiefs to the Niger-Delta region in order to halt crude oil theft going on and generate more revenue for the country.

 PENGASSAN’s President, Festus Osifo, who stated this in Abuja on the sideline of the association’s National Executive Council (NEC) meeting, said the price hike in electricity tariff was “quite astronomical”.

While expressing concerns over government’s explanation of only increasing the electricity tariff of those within Band A and enjoying 20 hours light, Osifo who doubles as president of the Trade Union Congress of Nigeria (TUC), noted that the details were currently being studied to allow labour address the issue properly, as government may be deploying a strategy to ensure a seamless enforcement of a new tariff across all bands.

• Tinubu tasks ECOWAS Parliament on strong ties, unity
• I have no reason to underperform – Tinubu

 According to him, labour would take a formal position after studying the details to ensure that the downtrodden Nigerians would not be affected.

 “Cross examining it, they said it’s for those within Band A and those within Band A are those that are receiving  20 hours light in a day, but we are to interrogate this further because as of today, just jumping from N66 to about N225 is quite enormous.

 “We need to also check the cost today if you are powering your generator. Is it even up to 255?  We think that the government should exist for the purpose of serving the people. Looking at it peripherally without studying the details because we are yet to study the details, we think that the price hike is quite astronomical.”

Osifo explained that there is a need for the government to pay more attention to the Niger-Delta region.

 According to him, an increase to crude oil production was critical to stabilising the economy, adding that there would be no need to remove subsidies on certain things that will inflict pains on people if revenues are properly harnessed.

“The easiest solution and what can come readily overnight is actually incremental production of crude oil today. If all is done the right way, we could increase our crude oil production by nothing less than 30%. When this is done, it’s going to give us more fx.

 “When this is done, the CBN could have much more financial muscle to be able to defend our naira. We implore the government, President Tinubu to ask his commanders to relocate to Niger-Delta and ensure that this menace of crude oil theft is put to a halt.

 “If you put it to a halt you will be able to generate more revenue and at the end of the day, the Nigerian state will be better for it,” the labour leader, who was flanked by members of the NEC, told journalists during the interview.