Businesses and organisations including tertiary institutions like University of Benin have resorted to load shedding following rise in electricity bills as a result of the recent hike in tariff.Businesses and organisations including tertiary institutions like University of Benin have resorted to load shedding following rise in electricity bills as a result of the recent hike in tariff.
“Our April bill is about N280 million, up from the former bill of about N80 million. Therefore, management is left with no other option but load shedding to reduce cost while negotiation continues with BEDC. Normalcy in power supply will be restored as soon as negotiations are concluded. Management appreciates your usual support, understanding, and regrets any inconveniences the increment may have caused you,” the institution lamented.
According to him, the power situation in Idunmwuowina, Igue-Iheya Iguosa and Ewomore, including Iyowa communities showed that BEDC had weaponised darkness. But BEDC has left the place in darkness by denying the residents power supply.” When contacted, Head, Branding and Corporate Communications of BEDC, Evelyn Gbiwen, said the power outage in Iguosa and environs was as a result of a failed 7.5MVA power transformer at Iguosa.
The Lagos Chamber of Commerce and Industry has warned that the organised private sector is in danger and has been thrown into a profound loan repayment crisis as interest rates adjust to new monetary policy rates.
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