FG Rules Out Immediate Electricity Tariff Hike in Nigeria

The Federal Government of Nigeria, represented by Minister of Power Joseph Tegbe, announced on Friday during a media roundtable in Lagos that there will be no immediate increase in electricity tariffs. Tegbe stated that the administration's priority is to enhance power supply, achieve universal metering, and ensure consumers only pay for the electricity they consume.

He clarified that there is no policy to raise tariffs beyond current levels and that efforts will focus on improving service delivery and protecting consumers. The government aims to implement reforms to reset the power sector, strengthen the national grid, and restore investor confidence.

This includes the Electricity Act, which allows states to create tailored electricity markets, and a Power Sector Bond initiative to settle legacy debts. The Presidential Metering Initiative is also central to these reforms, aiming for universal metering to eliminate estimated billing.

Tegbe noted that Nigeria has consistently generated 5,000 megawatts of electricity recently due to improved operational coordination and plant availability.