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Reps Worry Over $5bn For Fuelling Generators

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Cost of Fuelling generator
  • Reps Worry Over $5bn For Fuelling Generators

The House of Representatives is disturbed over the estimated $5bn that Nigerians are said to be spending yearly to fuel generators.

Many Nigerians rely on generators to provide electricity for both domestic and commercial uses.

The House said it was an indication of the unhealthy state of the country’s power sector, which must be fixed urgently.

The Speaker, Mr. Yakubu Dogara, who gave the position in Abuja on Tuesday, said the House was ready to support the executive arm of government to find solutions to the problems of the power sector, including intensifying efforts at developing renewable energy.

Dogara spoke at the opening of a public hearing on three power sector-related bills by the House Committee on Power.

The bills are ‘A Bill for an Act to Provide for the Utilisation, Sustainability and Adequate Supply of Renewable Energy for Electricity and Heat Generation and for other Related Matters’; ‘A Bill for an Act to Amend the Nigerian Electricity Regulatory Commission, Metre Reading, Billing and Cash Collection and Credit Management for Electricity Supplies and Regulations to Address Matters Relating to Outstanding Liability of Electric Bills in Rented Apartments’; and ‘A Bill for an Act to Amend the Electric Power Sector Reform Act to Re-position the Nigerian Electricity Regulatory Commission for Effective Service Delivery and for Related Matters’.

The speaker cited renewable energy as a largely untapped source of power that the Federal Government must focus on to address the power problems in the country.

He stated that the support of the House would come through an appropriate legal framework for the development of renewable energy sources.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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