Nigeria’s Minister of Power, Chief Adebayo Adelabu, has announced that ongoing advancements in power generation and distribution could lead to a reduction in electricity tariffs.
This was disclosed in a statement by his Special Adviser on Strategic Communication and Media, Mr. Bolaji Tunji, after a meeting with the Executive Secretary of the National Lottery Trust Fund, Mr. Tosin Adeyanju.
Currently, customers in Band-A pay ₦206.5 per kWh, following the removal of subsidies by the Federal Government, in exchange for a guaranteed minimum of 20 hours of power supply daily. Adelabu noted that 40% of electricity consumers now enjoy this level of supply, with average power generation reaching 5,500MW.
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The Minister emphasized that electricity prices in Nigeria remain among the lowest in Africa compared to countries like Togo, Mali, and Niger Republic, but acknowledged that the cost feels high due to low-income levels. He also highlighted the cost-effectiveness of electricity over using petrol or diesel-powered generators, given the current fuel prices.
Adelabu expressed optimism about future tariff reductions as improvements in power infrastructure continue. Tosin Adeyanju praised the Minister’s efforts in boosting public confidence in the power sector and pledged support for President Tinubu’s Renewed Hope Agenda by training rural youths in solar energy assembly to combat unemployment.
