The federal government has announced measures to revise power pricing for users outside of the Band-A category.
The planned increase attempts to bring other customer categories’ rates closer to the N206/kW paid by Band-A consumers.
Speaking at the public presentation of the National Integrated Electricity Policy (NIEP) and Nigeria Integrated Resource Plan (NIRP) in Abuja, Minister of Power Chief Adebayo Adelabu indicated that the government can no longer continue the N3 trillion power sector subsidies.
Adelabu noted that, with power generation and distribution expected to increase by around 35% by 2024, guaranteeing the industry’s commercial sustainability is critical for continued expansion.
“We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted.
“We are going to look at it and see how we can improve upon our modest achievement of last year, not only to ensure that we grow the sector that we need but also to ensure that we can invest more in revamping all these dilapidated infrastructures.”
“The migration to Band A should have been faster, but we found out that the DisCos refuse to invest. They have refused to invest in this sector.
“A lot of investment is required for us to achieve an accelerated migration of lower-band customers into Band A. It is taking a lot of time.” he said
A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.
Nnamdi Okoli