THE CABLE
Here are the seven top business stories you need to track this week — June 26 to July 30.
ELECTRICITY TARIFF HIKE
The federal government recently announced a possible increase in electricity tariff by 40 percent effective July 1, 2023.
The hike, according to the government, was in response to the surge in the pump price of petrol occasioned by the removal of subsidy.
Stakeholders such as the Manufacturers Association of Nigeria (MAN) and the Nigeria Labour Congress (NLC) have flayed the proposed tariff increase, warning of huge consequences on the consumers.
On Saturday, the Abuja Electricity Distribution Company (AEDC) said it would increase tariffs due to the fluctuating exchange rate in the country.
The distribution company said the upward review is needed due to the fluctuation of the naira in the exchange rate market.
NBS REPORT
The National Bureau of Statistics (NBS) is expected to release a report on internally generated revenue at the state level (2022 full year).
The bureau also intends to release a report on prison statistics for 2022.
FAAC: FG, STATES, LG SPEND N786bn IN MAY 2023
