Minister of Works, Dave Umahi has revealed that the Lagos-Calabar coastal road construction will take eight years to complete and cost N4bn per kilometre. The minister made the revelation on Channels Television on Thursday morning. Umahi, who said the cost is a tentative one, added that there are plans to recoup the money via tolling. His response is coming days after he said he would make the cost of the project public, following requests by Nigerians. You will recall that Atiku Abubarka of Peoples' Democratic Party, PDP's said recently that he did not understand the figures put towards the project. Hope Umahi's explanation answers these questions.
Barely 48 hours after it increased electricity tariff for customers in Band A, the Nigerian Electricity Regulatory Commission, NERC, has imposed a N200 million fine on the Abuja Electricity Distribution Company, AEDC, for increasing tariff for customers that are not on Band A. Band A customers are those who receive a minimum of 20 hours of power supply per day. Customers outside this category have complained that their rates have been increased by AEDC without the 20-hour supply in contravention of NERC’s order. In a statement on Friday, the Commission said AEDC has been fined ₦200,000,000 for failure to comply with the prescribed customer band classifications for tariff billing. “This decision follows a detailed review and customer feedback, which revealed that AEDC had applied the new tariff to all customer bands, contrary to the order, which was designed to ensure fair billing practices. “AEDC is therefore mandated to: a. reimburse all customers in Bands B, C, D, and E, respec...