Olubiyi Fadeyi

Olubiyi Fadeyi, the lawmaker representing Osun Central in the Senate has opened up on how much he spends on electricity and diesel on a monthly basis.

He stated that he spends the sum of one million naira each on electricity and diesel monthly.

Fadeyi disclosed this on Monday, April 29, at the investigative hearing on the “need to halt the proposed increase in electricity tariff”  in Abuja.

He said that the moving of customers to Band A was not justified as customers were not getting enough electricity supply.

Recall that the Nigerian Electricity Regulatory Commission had approved an increase of 340% in electricity tariff for customers under the Band A classification.

According to the NERC’s Vice Chairman, Musliu Oseni, Band A, customers will begin to pay N225 kilowatt per hour from the current N66. Band A customers are those who enjoy 20 hours of electricity supply daily and they make up 15 per cent of the 12 million electricity customers in Nigeria.

The NERC Vice Chairman however clarified that the review would not affect customers on the other bands.

Earlier, the Minister of Power, Adebayo Adelabu, in trying to justify the increase in the price of electricity said Nigerians who were moved to Band A now spend less money on the purchase of diesel and petrol to fuel their generator.

Reacting, Fadeyi said this is not the case and he still spends so much on electricity and on diesel.

Fadeyi said, “I spend N1m on electricity and another N1m on diesel. This is excluding how much I spend on my businesses.

“If the electricity was good, I wouldn’t spend that much on fueling my generator.”

Fadeyi added that the NERC should put more effort into performing its regulatory role to allow for effectiveness.