Expect crash in electricity tariffs soon, Minister of Power assures Nigerians
Nigeria’s Minister of Power, Adebayo Adelabu, has announced that the country’s enhanced power generation and distribution capabilities may soon lead to reduced electricity tariffs.
Adelabu shared this encouraging news during a meeting with Tosin Adeyanju, Executive Secretary of the National Lottery Trust Fund.
About 40% of consumers now enjoy substantial electricity supply, with Nigeria generating an average of 5,500 megawatts. Consumers in Band-A are currently charged N206.5 per kilowatt-hour following the Federal Government’s removal of electricity subsidies, aiming for at least 20 hours of daily power supply
Adelabu highlighted that Nigeria’s electricity price remains the lowest in Africa compared to countries like Togo, Mali, and Niger Republic.
Although acknowledging the financial strain on Nigerian consumers due to lower income levels, Adelabu emphasized the economic benefits of using electricity over petrol or diesel-powered generators, especially given current fuel prices.
He expressed optimism about potential tariff reductions as generation and distribution continue to improve.
He said, “the price of electricity remains the lowest in Nigeria compared to other African countries such as Togo, Mali, and Niger Republic.”
“It is still far more economical to use electricity than to rely on generators powered by petrol or diesel, especially considering the current prices of these fuels.”
Looking ahead, Adelabu stressed, “there is a possibility of a reduction in the current tariff as generation and distribution continue to increase.”
On his part, the Executive Secretary of the National Lottery Trust Fund, Adeyanju praised Adelabu’s efforts, commending his dedication to revitalizing the power sector. “Since 1999, we have not seen this level of progress in electricity supply,” Adeyanju noted.
