State-owned Zambia Electricity Supply Corporation Limited (ZESCO) has assured Zambians of improved power supply spanning seven-hour daily, depending on the approval of its emergency tariff adjustment by the Energy Regulation Board (ERB).

ZESCO, which is Zambia’s largest power company producing about 80% of the electricity consumed in the country, made the commitment during a public hearing held at Mulungushi International Conference Centre in Lusaka on Monday.

In his address, Victor Mapani, ZESCO’s Managing Director, stated that the proposed tariff increase would allow the company to raise $15 million monthly to import 300 megawatts (MW) of electricity.

“ZESCO’s ultimate goal is to add 788 MW of power to the 400 MW it currently imports from South Africa, Mozambique and Zimbabwe,” Mapani said.

Also speaking at the forum, Mark O’Donnell, representing the Business Coalition Task Office, noted that ZESCO’s tariffs were more affordable than diesel generators, which many households and businesses had resorted to due to Zambia’s energy challenges.

He emphasized the coalition’s support for the tariff hike but urged ZESCO to ensure efficient use of resources.

Ashu Sagar, President of the Zambia Association of Manufacturers (ZAM), raised concerns about ZESCO’s inconsistent load-shedding schedule, which he said had disrupted production planning and increased costs in the manufacturing sector.

On his part, ERB Board Chairperson, James Banda, announced that the board would make an independent decision on ZESCO tariff adjustment request on Thursday, devoid of political influence.

Nigeria’s President Bola Tinubu has reiterated that all the choices his administration has made since assuming office 17 months ago have been made to stop the country’s decline and put it on a path to sustainable and inclusive growth.

Tinubu, who made the assertion at the 54th Annual Accountants Conference in Abuja on Tuesday, said it was encouraging that Nigeria’s Gross Domestic Product growth for the first and second quarters of 2024 was positive, giving credence to his reforms and policies.

The president, who was represented by Minister of Budget and Economic Planning, Alhaji Abubakar Bagudu, noted that it was gladdening that inflation was on a downward trend, and the foreign exchange market was stabilising, with encouraging investment signals.

“We are continuing with innovative reform measures: digitisation of revenue collection and government services, consumer credit system to boost manufacturing and enable access to goods and services,” Tinubu said in his address to the audience.

“Our reforms include removing punitive subsidies to the economy. Revenue bleeding has reduced, and the three tiers of government are receiving higher allocations, which enable more support to vulnerable populations.

“Social investment spending is increasing, the minimum wage has increased, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.

“Our collective vision for Nigeria’s future is anchored on strengthening our institutions and nurturing a pervasive culture of accountability,” he said.

He added that his government was committed to leveraging cutting-edge technologies to boost transparency and efficiency and cultivate strategic partnerships to pave the way for sustainable development.