Members of the Coalition for Civil Societies in Osogbo, Osun State Friday morning protested against the hike in electricity tariff and petrol price. T
Members of the Coalition for Civil Societies in Osogbo, Osun State Friday morning protested against the hike in electricity tariff and petrol price. The protesters took off from Freedom Park, Osogbo around 8:30 am.
The protesters displayed placards showing their displeasure over the increase in electricity tariff and petrol price. The protesters lamented that “approval of new electricity tariff and increment in the pump price of petrol is the highest level of insensitivity and wickedness from President Muhammad Buhari-led All Progressives Congress government.”
Petrol prices have increased for three straight months, rising from N121.50–N123.50 per litre in June to N140.80-N143.80 in July, N148-N150 in August and N158-N162 in September. The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation had, on Wednesday, increased the ex-depot price of Premium Motor Spirit (petrol) to N151.56 per litre from N138.62 per litre but later reduced it to N147.67.
The ex-depot price is the price at which the product is sold to marketers at the depots.
Also, NERC approved an increase in electricity tariff with effect from September 1, 2020. This comes three months after the tariff hike implementation slated for July 1 was halted by the National Assembly, which prevailed on the distribution companies to shelve the date to the first quarter of 2021 due to the current economic challenges in Nigeria.
Electricity customers, except those receiving less than 12 hours of supply, would have to pay more for electricity starting from September 1, 2020.
