The Chief Executive Officer of Powerfull Technology Limited, Ifeanyi Okwuoma has said that the poor in Nigeria pay 10 times more for electricity than the rich.
This was disclosed by Okwuoma in a live appearance on Busineday Instagram interview on Wednesday.
Okwuoma noted that about 60 per cent of the cost of electricity is on inefficient appliances.
He said that the majority of the poor Nigerians do not even understand how electricity bills are being calculated.
He noted that many of the appliances in the homes of the poor are energy-draining appliances.
In addition, he pointed out that the poor ignorantly go for appliances that are cheapest in the market, not concerned about the power pull of these appliances, and as a result pay more on electricity tariff.
The rich, however, never forget to consider the power pull of every appliance in their decision-making, when buying all of these appliances.
He said “What will surprise you is that the poor in Nigeria are the ones paying most for electricity.
“Because, they go to the market, and see a freezer that is cheapest, they don’t even know what is the wattage, what is the power pull of the freezer.
“The rich on the other hand, would ask if the TV, the freezer, air conditioner, and so on is energy efficient.
“The rich look at energy efficiency as a key factor in deciding the choice of any appliance”
He emphasised that the poor pay a lot more for electricity, simply because many of their home appliances are not energy efficient.
Recall that on April 3, the Minister of Power, Adebayo Adelabu announced an increase in tariffs on electricity despite opposition from organised labour. The federal government, however, defended the hike, noting that only 1.5 million out of 12 million users fall under the higher tariff.
NERC said Band A category of customers constitutes about 15% of the total Nigerian electricity customers.
