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    MarketForces Africa » MarketNews » Tariff Hike: N230m Monthly Electricity Bill not Sustainable – Unilorin VC

    Tariff Hike: N230m Monthly Electricity Bill not Sustainable – Unilorin VC

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiJune 10, 2024 MarketNews No Comments2 Mins Read
    Tariff Hike: N230m Monthly Electricity Bill not Sustainable – Unilorin VC
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    Tariff Hike: N230m Monthly Electricity Bill not Sustainable – Unilorin VC

    Vice-Chancellor of University of Ilorin, Prof. Wahab Egbewole, says the institution’s monthly electricity bill has jumped from N70 million to N230 million.

    Egbewole, in an e-mail message sent to staff members and students of the university, a copy of which was made available to newsmen on Monday in Ilorin, said that the new monthly electricity bill was not sustainable.

    He said that the recent hike in electricity tariffs by Ibadan Electricity Distribution Company (IBEDC) had seriously affected the institution’s budget.

    Egbewole, a Senior Advocate of Nigeria (SAN), stressed the urgent need for critical re-assessment of the current electricity usage in the university.

    He appealed to both staff members and students to adopt more responsible electricity consumption habits and support the administration’s efforts to implement some cost-saving measures.

    According to the vice-chancellor, the management has intensified efforts in negotiations for alternative power supply to the university.

    He said that all the buildings under construction in the Faculties of Agriculture, Arts, Environmental Science, Law and Social Sciences would include provisions for alternative power sources as part of their designs.

    He added that strategies were being developed to ensure that all faculties and units were equipped with reliable alternative power options.

    Egbewole also stressed the need for safeguarding the new facilities from theft and vandalism, adding that they should be protected and maintained. Equities Market Climbs by N323bn on Fresh Rally

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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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    H1 2026: FCMB Group Sustains Performance, Reports 99% Growth in Profit Before Tax to ₦157.3 Billion

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    H1 2026: FCMB Group Sustains Performance, Reports 99% Growth in Profit Before Tax to ₦157.3 Billion

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