FG Rules Out Electricity Tariff Hike For Now, Eyes Stable Supply

By Modupe Gbadeyanka

The Minister of Power, Mr Joseph Tegbe, has declared that the federal government does not intend to increase electricity tariff at the moment, stressing that the priority remains improving supply to consumers across the country.

Speaking at a stakeholders’ session in Lagos on Friday, Mr Tegbe noted that, “Our objective is clear. To make electricity more available, make the grid more reliable, make the market financially sustainable and restore investor confidence. Ultimately, we want to ensure that electricity becomes a catalyst for national productivity rather than a constraint to economic growth.”

He stated that through the Presidential Metering Initiative, Nigeria is moving decisively towards universal metering because consumers deserve transparency, fairness and confidence that they only pay for the electricity they actually consume.

“This administration has also prioritised investment in transmission infrastructure, expanded rural electrification, strengthened institutional coordination across the electricity value chain, and continued to pursue reforms that encourage private capital while preserving the public interest,” the Minister said.

He affirmed the government’s commitment to improving electricity for Nigerians, having put in place adequate measures to achieve positive results in line with its renewed hope agenda.

According to him, resetting the sector does not imply that nothing has been achieved; it means building decisively upon the unprecedented reforms already initiated by President Bola Tinubu, whilst addressing long-standing structural deficiencies that have prevented the sector from reaching its full potential.

He disclosed that this administration has demonstrated strong political commitment to electricity sector reform since the liberalisation of the industry.

Mr Tegbe said the ministry has immediately commenced several significant interventions, including the inauguration of the Power Force. This initiative brings together 5,000 Nigerian Youths for meter installation across the country. This is to close the metering gap and also develop a strong, skilled pool of young Nigerians in the electricity field (NAPTIN).

Other interventions include significant progress in resolving the age-long challenges surrounding meter procurement, and encouraging improvements in electricity generation, as over the course of the last 2 weeks, the sector has consistently crossed the 5000MW mark.

“Our ambition is clear. Reliable electricity that powers our homes. Competitive electricity that powers our industries. Sustainable electricity that attracts investment. Inclusive electricity that reaches every Nigerian,” he stated.