“I Spend N1m Monthly on Electricity and Diesel,” Says Osun Senator

Osun Central Senator Olubiyi Fadeyi has expressed his concern over the significant costs associated with electricity and diesel consumption, stating that he spends a combined total of one million naira monthly for each. Fadeyi’s remarks came during an investigative hearing in Abuja on Monday, focused on the “need to halt the proposed increase in electricity tariff.”

During the hearing, Fadeyi criticized the recent decision by the Nigerian Electricity Regulatory Commission (NERC) to increase electricity tariffs by 340% for Band A customers. This change would see the cost per kilowatt-hour rise from N66 to N225. The NERC’s Vice Chairman, Musliu Oseni, clarified that the increase would only impact Band A customers, who typically enjoy up to 20 hours of electricity supply daily. This group represents 15% of Nigeria’s estimated 12 million electricity customers.

Senator Fadeyi took issue with the tariff hike, noting that it unfairly affects customers who are already struggling with inadequate power supply. He also criticized the Federal Government for moving customers to Band A without providing sufficient electricity. “Honourable Minister, you’re a hardworking man, and you’re putting in your best. But people are not getting value for the Band A power distribution,” he stated, addressing Minister of Power Adebayo Adelabu.

The Minister defended the tariff increase by suggesting that Nigerians moved to Band A would spend less on diesel and petrol for generators due to improved electricity supply. However, Fadeyi countered that argument, pointing out his own substantial spending on diesel despite being a Band A customer. “I spend N1m on electricity and another N1m on diesel. This is excluding how much I spend on my businesses. If the electricity was good, I wouldn’t spend that much on fueling my generator,” he said.

Fadeyi urged the NERC to strengthen its regulatory role to ensure that customers receive the quality of service they deserve, and he called for more efforts to address the ongoing challenges within Nigeria’s power sector.