The Federal Government has announced plans to review electricity tariffs for customers outside the Band A category, aiming to align their rates more closely with the N206/kW currently paid by Band A customers.
Speaking at the public presentation of the National Integrated Electricity Policy (NIEP) and the Nigeria Integrated Resource Plan (NIRP) in Abuja, the Minister of Power, Chief Adebayo Adelabu, stressed that the government can no longer sustain the N3 trillion subsidy on the power sector.
Adelabu highlighted that with a 35% increase in power generation and distribution in 2024, ensuring the commercial viability of the sector is essential.
“We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted. We are going to look at it and see how we can improve upon our modest achievement of last year… to grow the sector and invest in revamping dilapidated infrastructure.”
He also criticized DisCos for failing to invest, stating, “A lot of investment is required for us to achieve an accelerated migration of lower-band customers into Band A.”
