Nigeria In One Minute

No power, petrol price hikes till after elections

Nigerians should be ready for hike in power and petrol prices immediately after the 2019 general elections, economists and investors in the power and petroleum sectors have warned.

In a chat with New Telegraph in Lagos, they insisted that the expedient hike in prices of electric power and Premium Motor Spirit (PMS); two utility products in Nigeria, will wait till immediately after the general elections.

Speaking with New Telegraph newspaper last night, CEO of Financial Derivatives, Mr. Bismarck Rewane, a frontline economist, said nothing would happen on both power tariff and petrol price until after the election.

The All Progressives Party (APC)-led Federal Government, New Telegraph gathered last weekend, foreclosed the processes it started to make the current prices of these two products competitive basically because of the effects it could have on voting pattern during the forthcoming general elections.

New Telegraph, July 31, 2018

 

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