Nigeria Labour Congress (NLC), yesterday, sounded a note of warning to the Federal Government, insisting that the agreement reached with organised labour on reduction of electricity tariff by N15 per kilowatt-hour (KWH), by December must be respected.

The NLC said, “The posture of the Federal Government to flout agreements is completely unacceptable and would be resisted.”

In a statement by its President, Comrade Ayuba Wabba, the NLC also demanded a 40 per cent reduction of gas price to the Electricity Generating Companies (GENCOs), contending that instead of the $2.50 per standard cubic feet (SCF), it should be $1.50.

While rejecting the reported government-approved reduction of domestic gas prices for electricity generation from $2.50 to $2.18, SCF, labour noted that it did not only fall short of expectation, it equally breached the agreement both parties reached earlier in February that gas must be sold to the GENCOs in local currency.

Among others, NLC said, “It is significant that the incessant increase of electricity tariff was one of the several issues discussed between the representatives of the Federal Government and organised labour on September 28, 2020.
“Specifically, an agreement was reached at the meeting to set up a Federal Government of Nigeria, FGN-Organised Labour Technical Committee on Electricity Tariff.

“Indeed, the public will recall that at the close of the meeting, Minister of Labour and Employment, Dr Chris Ngige, made a statement to the media that the electricity tariff will go down considerably.

“Congress also wishes the Nigerian public to know that about 80% of electric energy generated in Nigeria is from thermal stations, which are powered by natural gas.

“In fact, the GENCOs consume over 70% of domestic gas production. Whereas the GENCOs are required to pay as much as $2.50 per standard cubic feet (SCF).”

“Other gas users, however, get the same at lower rates, ranging from $1.50 to $1.70 per SCF. The worn explanation for the incongruous high differential was the lack of timely payment by the GENCOs for the gas supplied.”

A MUST TO READ: We wish to add you to our WhatsApp Database to get our trending and latest news directly into your WhatsApp Box as the news breaks.
Kindly CONTACT US 08072633727 📲 on WhatsApp/Call📞
Also, For your Advert Placement, Publicity, Press Release, Personality Promotion, Special Report, Featured story, Conference, Interviews, And So On.