The Minister of Power, Chief Adebayo Adelabu, has stated that ongoing enhancements in power generation and distribution across Nigeria may lead to a decrease in electricity tariffs.
This announcement was made in a statement by his Special Adviser on Strategic Communication and Media, Mr. Bolaji Tunji, following a meeting with the Executive Secretary of the National Lottery Trust Fund, Mr. Tosin Adeyanju.
Currently, customers in Band-A are charged ₦206.5 per kWh after the Federal Government eliminated subsidies for this category in exchange for a guaranteed minimum of 20 hours of daily power supply. The Minister highlighted that 40% of electricity consumers now enjoy this level of service, with generation averaging 5,500MW.
Chief Adelabu pointed out that “electricity prices in Nigeria are still among the lowest compared to other African nations such as Togo, Mali, and Niger Republic.” However, he acknowledged that the comparatively low income levels in Nigeria make electricity costs appear high to consumers.
He further noted that using electricity remains significantly cheaper than operating generators powered by petrol or diesel, given the current prices of these fuels. The Minister expressed optimism regarding a potential reduction in tariffs as improvements in power generation and distribution continue.
In his remarks, National Lottery Trust Fund Executive Secretary Tosin Adeyanju commended the Minister for his commendable performance since taking office, particularly in rebuilding public trust in the power sector. Adeyanju stated, “Since 1999, we have not experienced this level of improvement in electricity supply. Many people had begun relying on solar energy due to poor supply, but your efforts have restored confidence in the sector.”
Adeyanju also outlined the agency’s plans to support President Bola Tinubu’s Renewed Hope Agenda by training youths, especially in rural areas, to assemble one kilowatt of solar energy. “We have approached your ministry for collaboration in training rural youths to help reduce unemployment and create jobs, particularly for those with vocational skills like hairdressing, vulcanizing, and welding,” he explained.
This initiative aims to tackle youth restiveness and unemployment across the country, aligning with President Tinubu’s vision for rural development and job creation.