These citizens, who live in highbrow areas, our correspondent learnt, usually connect their air-conditioners and other high electricity consuming appliances directly to the public power mains, while only connecting low-voltage gadgets to their meters.
A high number of the people involved in this sharp practice, it was discovered, use prepaid meters.
A source at PHCN, who would not want to be identified, told our correspondent that over 70 per cent of the electricity consumed by these rich citizens was not being paid for.
The source told our correspondent that the development was a huge threat to the revenue generating programme of PHCN.
The new electricity tariff under the MYTO-2 is expected to help PHCN generate up to N22.5bn monthly, the Minister of Power, Prof. Bart Nnaji, recently said.
The second MYTO came into effect on June 1, 2012, even though it ought to have started on January 1 this year.
The minister had described the amount as the irreducible sum the company needed to make in order to meet its obligations to primary suppliers like Shell, Agip, Ibom Power, the National Integrated Power Projects and the Nigerian Gas Company.
“The new tariff should enable the PHCN to generate up to N22.5bn monthly,” Nnaji said then.
Indebted to the tune of N400m, Nnaji said PHCN had hitherto been paying the International Oil Companies only 50 per cent for gas supply.
“Should the IOCs be forced to carry out their long standing threat of stopping further supplies to the PHCN, it will be calamitous for the whole nation,” the minister said.
More investments, he said, were urgently needed in the power sector, with $10bn needed annually e for the next decade to enable the country to generate 40,000MW by 2020 “so that we can become one of the 20 biggest economies in the world by 2020.”
Companies like Shell, Agip, Siemens, Daewoo, GE and others, he said, should be encouraged to continue to have confidence in the country, as return on investment was higher in Nigeria than in almost all the countries in the West.
According to him, the nation will be generating 5,500 megawatts of electricity before the end of the year, as minimum of 1,000MW will be added to the national grid this year, bringing the quantum of electricity available to 5,500MW.
Nnaji said, “Before the end of July, there will be a remarkable improvement in power supply across the nation. Apart from improved supply from the hydro stations, there will be more gas for the thermal plants in places like Olorunshogo in Ogun State. What is more, some of the units at the NIPP plant at Ihonvbo in Edo State would have been inaugurated.
“A minimum of 1,000MW will be added to the national grid this year, bringing the quantum of power delivered to the grid to 5,500MW. Unlike in the past when there would be an improvement in power supply in one month only for it to dip the next month, the improvement this time will not be reversible. It can only get better from month to month and from year to year.”
He also said the NIPPs implemented by the Niger Delta Power Holding Company of Nigeria would add about 4,700MW to the national grid.
“It is, among other things, adding 4,000 kilometres of transmission lines to the national electricity asset,” he added.
The minister said given President Goodluck Jonathan administration’s devotion to electricity development, it was not surprising that the international community, which had for several years adopted a largely negative attitude towards Nigeria, was now showing an unparalleled interest in the sector.
When the Bureau of Public Enterprises called for Expressions of Interest in the privatisation of the Power Holding Company of Nigeria’s assets in 2010, the minister said 331 EoIs were received.
| Posted: at | |
TRENDING GISTS 
AMVCA 2025: Seven Doors & Lisabi: The Uprising Light Up Nollywood’s Biggest Night (Full Winners)
Kidnap Ring Busted In Anambra: Four Arrested In Daring Night Raid
Ex-AUN Provost, Professor Yusuf Attahir Baba Loses Three Children in Devastating Car Crash
Football Star, Lionel Messi-Marriage Rumours Stir Online Frenzy As Divorce Speculations Grow
El-Rufai & Peter Obi Meet at Cambridge Conference, Sparking Political Speculation Ahead Of 2027 Elections
"How My Mother’s Lover Rap3d Me" — 12 Year Old Victim Narrates Ordeal