The Minister of Power, Chief Adebayo Adelabu, has announced that ongoing improvements in power generation and distribution could lead to a reduction in electricity tariffs across Nigeria. This was revealed during a meeting with the Executive Secretary of the National Lottery Trust Fund, Mr. Tosin Adeyanju, as stated by the Minister’s Special Adviser, Mr. Bolaji Tunji.
Currently, electricity customers in Band-A pay ₦206.5 per kWh following the Federal Government’s removal of subsidies, which was tied to a guarantee of at least 20 hours of power supply per day. Adelabu disclosed that 40% of customers now enjoy this power supply level, with generation averaging 5,500MW.
Adelabu emphasized that, compared to other African countries like Togo, Mali, and Niger Republic, Nigeria’s electricity remains the cheapest. However, he acknowledged that low income levels in Nigeria make the cost appear higher to consumers. He added that electricity is still more cost-effective than running petrol or diesel generators, and as generation and distribution increase, there is a possibility of reducing current tariffs.
The National Lottery boss, Adeyanju, praised the Minister’s performance and the significant improvements in Nigeria’s electricity supply since Adelabu took office, restoring public confidence in the power sector. Adeyanju also introduced a plan under the Renewed Hope Agenda of President Bola Tinubu to train youths in rural areas on assembling one-kilowatt solar energy systems. This initiative aims to reduce youth unemployment by creating jobs in sectors like hairdressing, welding, and vulcanizing. The National Lottery Trust Fund seeks a partnership with the Ministry of Power to implement this initiative nationwide.