'Electricity tariffs must remain at its current levels'

Vice President Yemi Osinbajo on Wednesday, October 7, 2015 said that electricity tariffs must remain at their current levels until power supply is stable in the country.

Osinbajo stated this during the annual general meeting of the Manufacturers Association of Nigeria(MAN) where he represented President Muhammadu Buhari.

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“Now, the truth of the matter is that at this point, if we want to have a cost-effective tariff, the only way is to service that core value chain and ensure we’re paying and compensating the value chain--from generation down to distribution--a cost effective tariff.

“Power is, of course, crucial and as the president said in his inaugural address...we shouldn’t be rejoicing at 4000mw of power,” he said.

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He reminded Nigerians that one of the key promises of this government is the creation of jobs and the only way to accomplish that is through the manufacturing sector.

The foreign exchange control, the diversification of the economy, the deliberate and ongoing approach to stabilizing power are some of the initial steps taken by this administration that will ultimately lead to the creation of jobs.