Business
Reversal OF Electricity Tariff: What The People Say
A Federal High Court sitting in Lagos last week reversed the 45 per cent increase of electricity tariff by the Nigerian Electricity Regulatory Commission (NERC). The court declared that the 45 per cent tariff increase was illegal and should be reversed immediately.
How do Nigerians view the judgement? What should be done to ensure compliance to the court ruling by NERC? Our correspondent, Calista Ezeaku, sought answers to these questions from some Port Harcourt residents. Our photographer, Ken Nwiueh, captured their images.
Miss Faith Frank – Business Woman
I think the reversal is nice because the way they charge these days is quite alarming. We hardly see light, but at the end of the month the bill they bring is so high. So I’m happy it will be reversed. But we all know that in this country people hardly obey court orders, especially government and it agencies. So I will appeal to the Federal Government to do everything possible to ensure that NERC obeys the court order and do the reversal immediately. If it means seting up a committee to enforce the reversal, government should do so. The right people that have the passion for this should be members of this implementation committee, a monitoring team or what ever they may call it. Failure to enforce the reversal immediately, NERC should be penalized because there is no reason why they should be adding to the pains of Nigerians.
The burden of the tariff increase is borne by the masses, many of whom depend on power for petty businesses. For instance, I sell drinks and I require power to chill them, when they bring the NEPA bills, by the time you look at the bills and look at the income from the business, you will find out that you are virtually labouring to pay bills. Your profit from the business is very minimal. So the high electricity tariff has affected a lot of businesses. Some businesses have folded because of the high tariff and other problems associated with NEPA. So the reversal should be enforced without delay please.
Mr Gift Kinika – A driver
Well the court ruling is highly appreciated because people have been paying huge amount of money for non available power. Assuming power supply has been adequate, even if they increase the tariff, people will not grumble. But a situation where the tariff was hiked and there was no improvement in power supply, yet consumers were forced to pay, was pure exploitation. Some people will stay up to a month without power supply, at the end of the month, they will still receive NEPA bill. So the reversal is in order. Let us go back to the old tariff. It took no time for NERC to increase the tariff and all NEPA offices complied immediately, so the reversal should take them no time. None compliance with the court order will mean NERC is irresponsible and insensitive to the plight of Nigerians. If it means forcing NERC to carry out the reversal, Federal Government should ensure that is done to help the poor masses.
I don’t know who took the matter to court, but I want to use this opportunity to thank the person. It really shows that the time of taking Nigerians for granted is over, I also thank the court for the nice job and appeal that they should not rest until NERC complies totally with the court ruling.
Felix Wayii – Civil Servant
It is very unfortunate that despite the intervention both by the National Assembly and other will meaning Nigerians, regarding the reversal of the hike in the electricity tariff, NERC and the electricity officers refused to comply. It is so unfortunate that despite the prevailing harsh economic situation in the country, the electricity officers refused to reduce the tariff. It simply shows how insensitive they are to the plight of Nigerians.
So I am happy that the matter was taken to court and that a positive judgment was gotten.
NERC should obey the court order and reverse the tariff immediately as failure to do so, might compel Nigerians to do what they deem necessary.
Prince Omuso – Businessman.
The hike in tariff had affected my business adversely and I am not happy. They hardly come to read our meter. They send estimated bills and they can give you any amount. This is wrong. On my compound I have few tenants. Only one of them uses fridge. The only appliance that is used by everybody which can consume current is pressing iron. Now, for them to charge such a compound N30,000, N40,000 at the end the month is very alarming. I thank God for those who were able to muster courage to take NERC to court and eventually won that case. And as court has ordered them to go back to the old tariff, they should do that immediately. They should also supply us the light that we are paying for because we pay for current that we do not consume and you don’t have any power to ask them why. Once they give you bill today, tomorrow you will see light. It will stay for about three days. The fourth day, you will see NEPA people coming for disconnection. If you have not paid your bill, you give them N1,000 and they will leave you. If you fail to cooperate, they will disconnect your light and take your wire to their office. You will go and pay reconnection fee. So they should also improve power supply so that the consumers will be happy to pay. We can’t continue to pay for what we did not consume.
So I will encourage Nigerians to take a cue from those that took the matter to court and learn to fight for our rights. If NERC and NEPA officials refuse to effect the reversal, we should meet NEPA managers in our various areas and demand that it be done . We must fight for our rights.
Again, this court judgment should be made known to the public,. People should be educated, informed and sensitized. If the judgment is not made known to the public, they will keep on charging us. The media has a big role to play in this case. They should pass the information to the people that the court has ordered the reversal of the electricity tariff. We are willing to pay but it has to be in accordance with the law. We cannot pay more than what we consumed and power supply should improve.
Mrs Lilian Okonkwo – Journalist
I think, it is a right step in the right direction. But it is unfortunate that in Nigeria today, we have instances where court orders were not obeyed. So we hope that this should be obeyed by NERC. The NERC has the duty of ensuring that the tariff is reversed immediately as it has been declared illegal, unfair, and unjustifiable and a further exploitation of already exploited Nigerian who pay for power not used or services not rendered.
I hail the courageous judgment of the Federal High Court. I call on NERC and Electrify Distribution Company (DISCO) to obey the judgment and reverse to the old rates without further delay. Also, the Minister of Power, the National Assembly and other stake holders should ensure compliance to the judgment. The Nigerian public should hold on to the judgment and resist the increase or failure to reverse the tariff.
Business
MoneyPoint Empowers Pharmacists With Payment Solutions
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
Business
Embrace AI, CIIN Urges Insurance Operators
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
Business
NASRDA Reassures On Strengthening Nigeria’s Space Capability
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter