During the recent webinar organised by Emmanuel Chapel on Economic Sustainability Beyond COVID-19, the Vice President, Yemi Osinbajo said Nigerians will be willing to pay for electricity if power supply is improved.
Vice President Osinbajo said it is indeed true, that Nigerians do not want to pay an increased fee for power supply. However, he notes that the major challenge, has been poor power supply over the years.
Reacting to a question posed by the former Emir of Kano, Muhammad Sanusi II, Osinbajo said: “Just to comment on the point you made and I have alluded to it that income elasticity is more important for persons living in the rural area and for the poor who need to have electricity for whatever means of livelihood they have.
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“What we have discovered especially as we have worked with private sector to deploy solar power in different parts of the country is exactly the point you have made.
“For example, in Wuna, a village which is just outside Abuja, they never had light until a private company provided solar power there, what they pay on average for their power is well in excess of the N37 per unit that we pay for power of the grid.
“There is no question at all and Turankawa in Sokoto pays almost N100, so from many of the areas where we have been it is evident that this business of people not willing to pay for power is not true at all, as a matter of fact the reason why there is such great resistance is really the service level.”
The Federal Government blamed the inefficient collection processes of the 11 electricity distribution companies (DisCos), to a loss in revenue of N890 billion.
The N890 billion drop in revenue collected, is contained in the summary report and recommendations of the National Economic Council (NEC).
