You can’t continue to subsidise electricity | GenCos tell FG

Power generating companies (GenCos) have called for increase in electricity tariff.

Vice Chairman, Mainstream Energy Solution, Ismaila Funtua said this on Tuesday while speaking with journalists on the sidelines of the quarterly presidential business meeting held in Abuja.

Funtua said GenCos were demanding that the government stop subsidising electricity.

He also said the GenCos operatives had asked to meet with Acting President Yemi Osinbajo alongside key government officials to sort out constraints in their business.

“Whether government likes it or not, they have to review the tariff of power in this country,” Funtua said.

“All those playing politics with it that they do not want to increase, people do not want to hear of this. This is my cell phone; you pay for it even before you make use of it. And nobody is controlling the tariff, they charge what they want and all of us have at least one cell phone, therefore government needs to do the needful.

“If government wants power, then they cannot continue to subsidise for people, you were there when the minister of power was saying that people who have ability to pay will pay but those government needs to subsidise will be subsidised for.”

Funtua said pending questions must be answered before calls for power privatisation would be addressed.

“So many people are talking about the review of the privatisation of power without knowing where we started from, where are we today, are we owed money or are we not owed money, these monies, some of it belongs to the banks, some of it belongs to us,” he asked.

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