GENCOs demand for increase in electricity tariff

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Power generation companies in the country have insisted that the Federal Government must increase electricity tariff, The Punch reports.

The Vice Chairman, Mainstream Energy Solution, Ismaila Funtua, made the demand in an interview with State House correspondents on the sidelines of the Quarterly Presidential Business Forum held at the Presidential Villa.

Funtua said the representatives of the Gencos had asked for a meeting with the Acting President, Yemi Osinbajo, and the Minister of Finance, Central Bank of Nigeria Governor and the Minister of Power, Works and Housing to sort out issues that were serving as impediments to their businesses.

Also calling for tariff hike, the Managing Director, Egbin Power Plc, Kola Adesina, said there were costs that the Gencos incurred in trying to generate electricity and the current structures on ground were not business-friendly since electricity was not political but business inclined.