The Federal Government has ruled out any immediate increase in electricity tariffs, saying its priority is to improve power supply, achieve universal metering and ensure consumers pay only for the electricity they consume.
The Minister of Power, Joseph Tegbe, disclosed this on Friday during a media roundtable on the resetting of Nigeria’s power sector in Lagos.
He said, contrary to public speculation, the current administration had no policy to raise electricity tariffs beyond the existing levels, stressing that efforts would instead be directed at improving service delivery and protecting electricity consumers.
“First, there is no policy by this administration to increase electricity tariffs beyond its current level. Our priority is not tariff increase in the immediate term. Our priority is service improvement, universal metering and ensuring Nigerians pay only for the electricity they actually consume,” the minister said.
He added that the Federal Government would continue to examine additional mechanisms to protect vulnerable consumers while improving the financial sustainability of the Nigerian Electricity Supply Industry.
“Indeed, the Federal Government will continue to examine additional mechanisms for protecting vulnerable consumers whilst simultaneously improving the financial sustainability of the market,” he stated.
Tegbe said the government’s position formed part of a broader strategy to reset the power sector through reforms designed to improve electricity supply, strengthen the national grid, restore investor confidence and make the electricity market financially sustainable.
