AEDC MD Advocates Investment to Lower Electricity Costs

Engr. Chijioke Okwuokenye, the Managing Director of the Abuja Electricity Distribution Company (AEDC), stated that increased investment in Nigeria's power sector is crucial for reducing electricity costs. During an appearance on Trust TV, he highlighted that rural communities using solar mini-grids pay tariffs exceeding N300 per kilowatt hour, with some even paying N400, and expressed that these communities are satisfied with the service despite the costs.

Okwuokenye pointed out that the current federal government subsidy hinders investment in the sector, which is necessary for lowering tariffs. He emphasized that energy pricing must reflect true costs to attract investments and promote industrialization.

He asserted that as energy delivery increases, the average unit cost will decrease, leading to improved living standards, job creation, and reduced costs in other sectors, including healthcare and education. Okwuokenye concluded that the removal of subsidies, if managed correctly, could ultimately benefit Nigerians.