SENATE WILL PREVENT INCREASE IN PETROL AND ELECTRICITY TARIFF

The Senate has assured Nigerians that it was doing necessary oversight activities to ensure that there is no hike in petroleum pump price and electricity tariff despite the falling value of the naira against major world currencies.

The Chairman, Senate Committee on Media and Public Affairs, Senator Yemi Adaramodu, gave the assurance in an interview with journalists in Abuja.

He was reacting to what the Senate was doing to arrest the current fears over possible hike in electricity tariff and pump price as a result of the high landing cost of petroleum and indebtedness of the federal government to the electricity generating firms.

It had also been reported in the Media that due to the prevailing black-market rate of about N1,600 per dollar, the landing cost of petrol had soared to about N1,009 per litre, marking a substantial increase from N720 per litre recorded in October 2023.

However, the Senate said it was doing everything possible to ensure that Nigerians would not pay through their nose to enjoy electricity and petrol.