The Minister of Power, Adebayo Adelabu, has announced that ongoing enhancements in power generation and distribution may result in a decrease in electricity tariffs across Nigeria.
The minister made this disclosure during a meeting with the Executive Secretary of the National Lottery Trust Fund, Mr. Tosin Adeyanju. In a statement released on Thursday by the Minister’s Special Adviser on Strategic Communication and Media, Mr. Bolaji Tunji, Adelabu noted that approximately 40% of consumers now receive a substantial power supply, with the nation generating an average of 5,500 megawatts (MW).
Following the Federal Government’s subsidy removal, customers in Band-A are currently charged N206.5 per kilowatt-hour (kWh), under an agreement to ensure a minimum of 20 hours of daily power supply. Despite the increase, Adelabu highlighted that Nigeria’s electricity prices remain the lowest in comparison to neighboring African countries such as Togo, Mali, and Niger Republic.
Acknowledging that the low income levels in Nigeria may make the tariffs seem high to consumers, the minister stressed, “It is still far cheaper to use electricity than to run generators, using petrol or diesel, given the current prices of those commodities.”
Adelabu expressed optimism about future developments in the sector, stating, “There is a possibility of a reduction in the current tariff as generation and distribution are ramped up.”
Mr. Adeyanju commended the minister’s performance, noting the significant improvements in electricity supply. “Since 1999, we have not seen the level of improvement in electricity supply that we are witnessing today. Previously, many people turned to solar energy due to the poor supply, but your leadership has restored public confidence in the sector,” Adeyanju said.
He also informed the minister that as part of President Bola Tinubu’s Renewed Hope Agenda, the National Lottery Trust Fund is focusing on empowering rural youths by training them to assemble one kilowatt of solar energy.
