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Power may cost more as gas price increases

29 January 2014, 18:33

Abuja - Nigerians may have to pay more for electricity as the federal government may have concluded plans to raise the domestic price of natural gas to $1.5 per 1 000 standard cubic feet (SCF) from its present rate of $1 per 1 000 SCF.

The new proposed price for gas represents a 50% increase, reports Premium Times.

Andrew Yakubu, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) said the move was to ensure adequate supply and encourage more gas supplies/sales to power plants.

Nigerians can now expect to pay more for their gas and electricity bills. Manufacturers who rely on gas will also face sharp price increases.

Read more at Premium Times

Tags nnpc abuja gas

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