The Standards Organisation of Nigeria (SON) has destroyed substandard mobile phone accessories worth N480 million at Epe in Lagos. Addressing the media at the destruction site, the Director General, Osita Aboloma Esq., stated that the organisation was on top of its game to ensure that substandard goods did not find[Read More…]
Tag: consumers
Nigerian consumers should patronise locally made goods – SON
The management of the Standard Organisation of Nigeria (SON) has urged Nigerians to stop buying substandard goods and should rather embrace certified locally made products. Mrs Esther Okon, the Coordinator of SON in Kwara, made the call in Ilorin on Monday at meeting organised by FORGO Batteries Company Limited. Okon[Read More…]
Consumers kick as Dicos raise meter, electricity costs
The upward increase of VAT from 5 percent to 7.5% by government effective from 1st February 2020 is already having rippling effects on prices of meters and electricity supply services in the power sector. In this piece, Daily Trust explored the changes effected by some power firms and the additional[Read More…]
Electricity prices are tumbling for generators, why not for consumers?
The prices big power generators receive have collapsed, but don’t expect that to show up on your power bill any time soon – if ever. Average active wholesale contract prices have fallen roughly 36 per cent over the past three months. Forward prices are depressed way off into the future[Read More…]
NERC moves to remove tariff related liabilities from DisCos
The Nigeria Electricity Regulatory Commission (NERC) on Thursday moved to remove historical related liabilities from the financial records of DisCos. NERC said that the order No. NERC/196/2020 that it issued yesterday seeks to resolve the continued accumulation of future tariff related shortfalls during the transition to cost reflective tariffs and[Read More…]
Nigerians to pay more for data, calls as telcos apply new VAT
The Association of Licensed Telecommunications Operators of Nigeria (ALTONS) said it will start implementing the country’s new 7.5% Value Added Tax (VAT) increase from Saturday, February 1 2020. “Further to the assent of the Finance Bill by President Muhammadu Buhari…which reviewed the Value Added Tax (VAT) from 5% to 7.5%,[Read More…]
Electricity consumers to get refund of money from DISCOS – Reps
The House of Representatives is proposing that money spent by electricity consumers to acquire and maintain electrical facilities connected to the national grid be refunded by the distribution company. The distribution companies will be solely responsible for the purchase and maintenance of facilities in the electricity distribution network, as being[Read More…]
Electricity Tariff Hike: Why consumers will pay for more darkness — Experts
In December 2015, when the Nigerian Electricity Regulatory Commission, NERC, with the backing of the Federal Government, carried out the last upward electricity of tariff review, it told Nigerians that the hike would bring about stable electricity supply and finally resolve the problems of the country’s power sector. Specifically, then-Minister[Read More…]
Minor Review of MYTO For NESI
The attention of the Nigerian Electricity Regulatory Commission (the “Commission”) has been drawn to reports in the media that an immediate increase in end-user electricity tariffs has been approved by NERC. The Electric Power Sector Reform Act provides that the Commission shall determine and periodically review electricity tariffs charged by[Read More…]
SON Assures Consumers of Improved Service Delivery in 2020 – Calls for Increased Self-Regulation
Nigerian manufacturers, importers and consumers have been assured of improved service delivery from the Standards Organisation of Nigeria (SON) in all areas of the agency’s mandate in year 2020. Director General, SON Osita Aboloma Esq. gave the assurance in a media chat to review the activities of the organization in[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]