Veteran Nollywood actress Kate Henshaw has reacted to the reports of the possibility of Electricity customers on Band experiencing a new tariff increase following the rise in the electricity tariff shortfall, otherwise known as subsidy.
According to a new report, the electricity subsidy, which was N102.30 bn in May, rose to a staggering N181,63bn in September. This continuous rise has fuelled speculations that there may be another tariff increase in the October Multi-Year Tariff Order unless the cost of power generation drops.
NaijaOnPoint.com.ng (NOP) learnt that the foreign exchange crisis has been the major driver of the electricity subsidy as the Nigerian Electricity Regulatory Commission (NERC) put the dollar exchange rate at N1,494.1 in July; 1,564.3 in August; and N1601.5 in September.
Reacting to the development, Henshaw, via the microblogging platform X formerly Twitter, expressed dismay over the new method of categorizing of electricity bands, saying it is pure theft
She tweeted: “I have said it before and I repeat, this banding of electricity is pure theft. Nowhere in the world is there a Brand A or whatever alphabet for electricity. Give everyone electricity and let them pay for what they. consume. Another hike??? Kuku put a rope on our necks.”