The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, says Nigerians must be prepared to pay more for electricity.

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While power firms say it is necessary for them to recover cost, consumers say the industry must attain a level of stability before tariff hike

Emefiele who was head, Nigerian delegation to the International Monetary Fund/the World Bank Group meetings in Lima, Peru, says the country is not sliding to into recession. He says Nigeria came out of the meetings with a road map on the way forward, including adopting economic diversification and stricter foreign exchange controls.

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