Multi Year Tariff Order due to commence nationwide tomorrow February 1.
Minister of Power, Works and Housing, BABATUNDE FASHOLA said the new Tariff was aimed at correcting the whole system in the entire value chain of the power sector in order to achieve steady power supply in the country.
FASHOLA, gave this indication in an interview with newsmen in Abuja at the site of the 2 X 60 MVA 132/33 KV Sub-Station Kukwaba Power Project during a continuation of the nationwide inspection, verification and fact finding tour of projects under his ministry.
He said acceptance of the new Tariff Order would also galvanize the sector and boost Power Sector investments which would in turn usher in more development in the country.
Responding to a question if investors with interest in smaller Power Plants still had a role and a market in the Power Sector given the bigger Generating Plants inspected in the course of the tour, the Minister said investors would only come into the Sector if the pricing was right .
FASHOLA, who noted that he and his team have so far visited two Power Generating Plants – Geregu I and II and transmission stations in Benue, Nasarawa , Plateau in Pankshin and in Abuja, said that generation is now a commercial, private business.