Professor of Energy and Electricity law, Yemi Oke has advised the federal government to target direct subsidies towards the consumers and not on production.
In an interview with ARISE NEWS on Wednesday, Oke said by shifting the focus away from production subsidies, wastage and excessive production costs could be mitigated, ultimately fostering efficiency and sustainability in the power sector.
“Coming now specifically to the power sector, Nigerians were not even aware till recently when some of us started amplifying that there is huge subsidy in the power sector. But if the government can’t continue to subsidize darkness, if you’re giving subsidies for the purpose of electricity, then it’s supposed to be for the fact that Nigerians are having power.
“But that is not the case with the power sector. The government needs to restructure the regime in the power sector. It is going to kill the Nigerian economy. Government shouldn’t continue to subsidize production despite the challenges. If there is going to be a direct subsidy, it should be to consumers. you can’t subsidize production because it is going to incentivize wastages and humongous production cost.”
Criticizing the practice of subsidizing electricity without ensuring tangible benefits for consumers, the energy expert called for a restructuring of subsidy mechanisms to align with economic realities.
“Power sector is one area we have to look at ourselves and tell the bitter truth. I have always advocated and still stand by my position that the power sector is one sector we need to get right for things to start to crystalize in the direction of progress and economic prosperity. We have made a number of mistakes in the power sector and we need to start correcting the mistakes.
“The current structure of the power sector is not sustainable and as an energy expert, I feel we have too many subsidies in the energy sector, which include petroleum, gas and power sector. Once we have humongous subsidies in the energy sector generally, would that be sustainable? The answer is No.
Furthermore, Oke criticized the Power Sector Reform Act of 2005, labeling it as flawed and ineffective. He said despite provisions for the PCAF, aimed at supporting low-income earners, the fund has never been operationalized, leaving a critical gap in providing relief to vulnerable consumers.
“We have always had a mechanism in the law which was never crystalized. I objected to that. The power sector reform act of 2005 was a funny law that I have always been criticizing since it was put in place. A lot of Nigerians are not aware that we have a power consumer assistance fund (PCAF), even in the old law.
“PCAF was never operationalized. It was a structured pool of funds meant to subsidize low-income earners who would not be able to afford hikes in electricity tariffs. Government should put in place appropriate structures that would crystallize PCAF. That would reduce the burden on Nigerian”
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E-AUCTION Some Auction Vehicles/Cars For Sale
Mama Africa #17,000 •Tomatoes Rice # *15,000* •Cap Rice #15,000 •My Food #17,000 •Mama Gold #17,500 •Ade Brazil #15,000 •Elephant Gold #15,000 •Royal Umbrella #15,000 Etc.
Golf3= 400,000
Camry Tinny-Light=550,000
Tundra 1,300,000
Toyota Exterra=850,000
Toyota Camry big daddy=650,000
Toyota Venza= 1.7million
Toyota Avalon=850,000
Toyota Rav4=950,000
Toyota Prado=1.3million
TOYOTA HILUX=2million
Toyota Sienna=850,000
TOYOTA 4-RUNNER=950,000
Toyota Corolla=650,000
Toyota Matrix= 700,000
Toyota Highlander=950,000
Toyota Picnic=500,000
Tacoma 1.850,000
Toyota Hiace Bus=950,000
Toyota Tundra=1.5million
Toyota Sequola=900,000
BMW 5-series=1.960,000
BMW 3-series=1.640,000
BMW X6=2.670,000
Ford Edge=700,000
Ford Escape=600,000
Honda Elantra=600,000
Honda Baby-Boy=700,000
Dyna Truck 900k
TIPPER Head 6mill
Honda Accord=550,000
Honda CRV=650,000
HONDA CIVIC=500,000
HONDA EVIL-SPIRIT=750,000
HONDA ODYSSEY=500,000
Honda Pilot=850,000
Nissan pathfinder=800,000
Nissan Amanda=750,000
Infinity=950,000
Benz C250=N1.300,000
Benz C300=1.6MILLION
Benz ML350=2 million
Benz ML300=1.5 million
Benz ML550=2.6million
Mercedes-Benz C-Class ₦1.3Million
Mercedes-Benz E-Class ₦1.8Million
Mercedes-Benz GLK ₦3.Million
Es330 1.6
Lexus C5 350=950,000
IS250 1m
Lexus Rx300=1.2 million
Lexus Rx330=1.5 million
Is350 2
Lexus Rx350= 2 million
ES350 2mill
Land Rover Discovery ₦3.2Million
Land Rover Freelander ₦3.6Million
Land Range Rover Sport ₦4Million
Acura MDX ₦1.8Million
Pequot 206=350,000
Pequot 406=470,000
PequotE-AUCTION E-AUCTION E-AUCTION Some Auction Vehicles/Cars For Sale
Bag of rice 18,5OO
Vegetable oil 15,0OO
Golf3= 300,000
Camry Tinny-Light=350,000
Tundra 1,300,000
Toyota Exterra=850,000
Toyota Camry big daddy=650,000
Toyota Venza= 1.7million
Toyota Avalon=850,000
Toyota Rav4=950,000
Toyota Prado=1.3million
TOYOTA HILUX=2million
Toyota Sienna=850,000
TOYOTA 4-RUNNER=950,000
Toyota Corolla=650,000
Toyota Matrix= 700,000
Toyota Highlander=950,000
Toyota Picnic=500,000
Tacoma 1.850,000
Toyota Hiace Bus=950,000
Toyota Tundra=1.5million
Toyota Sequola=900,000
BMW 5-series=1.960,000
BMW 3-series=1.640,000
BMW X6=2.670,000
Ford Edge=700,000
Ford Escape=600,000
Honda Elantra=600,000
Honda Baby-Boy=700,000
Dyna Truck 900k
TIPPER Head 6mill
Honda Accord=550,000
Honda CRV=650,000
HONDA CIVIC=500,000
HONDA EVIL-SPIRIT=750,000
HONDA ODYSSEY=500,000
Honda Pilot=850,000
Nissan pathfinder=800,000
Nissan Amanda=750,000
Infinity=950,000
Benz C250=N1.300,000
Benz C300=1.6MILLION
Benz ML350=2 million
Benz ML300=1.5 million
Benz ML550=2.6million
Mercedes-Benz C-Class ₦1.3Million
Mercedes-Benz E-Class ₦1.8Million
Mercedes-Benz GLK ₦3.Million
Es330 1.6
Lexus C5 350=950,000
IS250 1m
Lexus Rx300=1.2 million
Lexus Rx330=1.5 million
Is350 2mill
Gx470 1.8mill
Lexus Rx350= 2 million
ES350 2mill
Land Rover Discovery ₦3.2Million
Land Rover Freelander ₦3.6Million
Land Range Rover Sport ₦4Million
Acura MDX ₦1.8Million
Pequot 206=350,000
Pequot 406=470,000
Pequot 607=650,000
607=650,000
.....
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