October 03, 2024
Nigerian Power Minister Adebayo Adelabu has hinted at a possible reduction in electricity tariffs soon, thanks to improved power generation and distribution.
Adelabu noted that Nigeria’s electricity prices are already the lowest in Africa, compared to countries like Togo, Mali, and Niger Republic.
He emphasised that “the price of electricity is still the cheapest in Nigeria, compared to other African nations such as Togo, Mali, and Niger Republic.”
Currently, the country generates an average of 5,500MW, with about 40% of consumers receiving a significant amount of power.
The minister’s announcement comes after the government removed subsidies, leading to a current charge of N206.5 per kWh for Band-A customers, with a guaranteed 20 hours of daily power supply.
Furthermore, he asserted, “It is still far cheaper to use electricity than to run generators, using petrol or diesel, given the current prices of those commodities.”
The Minister expressed optimism about the future, stating, “there is a possibility of a reduction in the current tariff as generation and distribution are ramped up.”
In his remarks, Adeyanju commended the minister for his performance over the past year, highlighting his competence and efforts to restore Nigerians’ confidence in the power sector.
“I would like to commend you as a minister who is actively improving the power sector. Since 1999, we have not seen the level of improvement in electricity supply that we are witnessing today. Previously, many people were turning to solar energy due to the poor supply. However, your leadership has restored public confidence in the sector,” Adeyanju stated.
He informed the Minister that, as part of President Bola Tinubu’s Renewed Hope Agenda, the agency is focused on empowering youths, especially in rural areas, by training them to assemble one kilowatt of solar energy.
