FG Rules Out Immediate Electricity Tariff Hike in Nigeria

The Federal Government of Nigeria has announced that there will be no immediate increase in electricity tariffs, prioritizing improvements in power supply, universal metering, and ensuring consumers only pay for the electricity they consume. Minister of Power Joseph Tegbe made this declaration during a media roundtable on the resetting of Nigeria’s power sector held in Lagos.

He emphasized that the current administration has no policy to raise electricity tariffs beyond existing levels and is instead focused on enhancing service delivery and protecting consumers. Tegbe stated that the government will explore mechanisms to protect vulnerable consumers while improving the financial sustainability of the Nigerian Electricity Supply Industry.

The reforms aim to strengthen the national grid, restore investor confidence, and ensure the electricity market is financially sustainable. The Presidential Metering Initiative is central to these reforms, with efforts to eliminate estimated billing.

Additionally, the Power Force initiative will engage 5,000 youths in meter installation and technical skill development. Nigeria has consistently generated 5,000 megawatts of electricity recently, attributed to better operational coordination and plant availability.