Fayose backs FG's new electricity tariff model for universities, hospitals via RAMCO
Chairman of the Rural Electrification Agency and former Ekiti governor Ayodele Fayose endorsed the Federal Government's new electricity tariff collection model for universities and teaching hospitals at the Renewable Asset Management Company (RAMCO) unveiling in Abuja yesterday. RAMCO, a government-owned entity, will collect tariffs on completed renewable energy projects across 25 public tertiary institutions and hospitals nationwide.
Fayose stressed that sustaining infrastructure requires Nigerians to adopt an ownership mindset, noting that attitude change in just 10% of citizens could transform Africa's most populous country. He called RAMCO 'the best thing to happen to Nigeria's electricity sector' for reducing dependence on government budgets and sovereign borrowing to expand access.
REA Managing Director Abba Aliyu added that RAMCO will decrease reliance on state funds for renewable energy maintenance. While the Minister of Power previously announced plans for fresh tariffs on these energy assets, specific rates and implementation dates remain undisclosed. Students, staff, and patients at affected institutions should monitor official announcements for potential cost impacts on their electricity usage.
How might this new tariff model affect your electricity costs if you study, work, or seek treatment at one of Nigeria's public universities or teaching hospitals?