No plan to increase electricity tariff for now — FG

The Federal Government has said that it is not planning an increase in electricity tariff for now as it has also put in place adequate measures to achieve positive results in the power sector in line with its Renewed Hope Agenda.

The Minister of Power, Joseph Olasunhanmi Tegbe, made these known at a stakeholders’ session he had in Lagos State on Friday.

Tegbe pointed out that the event marks the beginning of a new chapter of openness, accountability, and collaboration in the power sector. 

He said resetting the sector does not imply that nothing has been achieved.

Rather, he said it means building decisively upon the unprecedented reforms already initiated by President Bola Ahmed Tinubu whilst addressing long-standing structural deficiencies that have prevented the sector from reaching its full potential. 

He said: “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.”

The Minister affirmed President Tinubu has demonstrated strong political commitment to the electricity sector reform since the liberalisation of the industry, as his administration understands an undeniable truth: No nation has ever industrialised without reliable electricity.

According to the Minister of Power, there is no move by the Federal Government to increase tariff as reported by some media platforms.

He said 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. 

He said: “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.”

Tegbe said the Ministry of Power has immediately commenced several significant interventions, including the inauguration of Power Force. 

This initiative brings together 5,000 Nigerian youths for meter installation across the country. 

It 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 two weeks, the sector has consistently crossed the 5000MW mark.

The Minister added: “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.”

𝕤𝕖𝕖 𝕞𝕠𝕣𝕖/𝕨𝕒𝕥𝕔𝕙 𝕥𝕙𝕖 𝕧𝕚𝕕𝕖𝕠 𝕙𝕖𝕣𝕖