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Ogun governor backs increase in price of fuel, electricity

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Ogun State Governor, Dapo Abiodun, on Thursday expressed his support for the Federal Government’s decision to hike electricity tariff and fuel pump price.

In a chat with State House correspondents after he held a closed-door meeting with President Muhammadu Buhari at the Presidential Villa, Abuja, the governor called for Nigerians’ understanding on the matter.

He said: “First, we want to enjoy lower prices when the prices of crude are low and then we do not want to pay for a slight increase when the price of crude goes up.

“The price of crude is directly proportional to the price of refined products. So, I believe that is what is happening at the moment.

“On the electricity tariff, we all complain that we are not generating enough electricity and we all complain about the fact that we don’t have the right infrastructure to transmit electricity. We complain about the fact that the distribution companies do not seem to be efficient.

READ ALSO: PDP rejects fuel price, electricity tariff hikes

“The problem is because, perhaps, the pricing is not right.

“If you want people to invest in production of gas, in gas floatation, which our turbines and our power plants rely on, we must ensure that the entire value chain is profitable.

“This is because if one part of it is not profitable, that means there will be a shortfall in one of the value chains if we don’t have enough investment.”

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