Prof. Wumi Iledare, Professor of Petroleum Economics and Policy Research, commented: "The new tariff may be based on an increase in the wellhead price for gas. We must agree, however, that N68 per KWhr is a substantially lower price ceiling than the current market clearing price. N68 is likewise not close to the fair return price of an economic good with a declining marginal and average cost curves.
Doctors and other staff at the University College Hospital (UCH) Ibadan, Oyo State, have reduced their work hours after the hospital admitted that it owes the Ibadan Electricity Distribution Company up to N495million, for which reason the teaching hospital was disconnected from power supply. The doctors, nurses, and other staff of the hospital refused to work beyond 4pm unless power is reconnected.
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