Good News: No Electricity Tariff Hike Coming Anytime Soon — FG

The Federal Government has stated that improving power supply, achieving universal metering, and ensuring that customers only pay for the electricity they use are its top priorities. As a result, it has ruled out any immediate increase in electricity rates.

This was revealed on Friday by Joseph Tegbe, the Minister of Power, at a media roundtable on Nigeria’s power sector reset in Lagos.

Tegbe emphasized that efforts would instead be focused on enhancing service delivery and safeguarding electricity consumers, refuting public conjecture that the current administration had no policy to raise electricity tariffs above the current levels.

He said;

“First, there is no policy by this administration to increase electricity tariffs beyond its current level. Our priority is not tariff increase in the immediate term. Our priority is service improvement, universal metering and ensuring Nigerians pay only for the electricity they actually consume.”

“Indeed, the Federal Government will continue to examine additional mechanisms for protecting vulnerable consumers whilst simultaneously improving the financial sustainability of the market.”

The minister stated that the Presidential Metering Initiative continued to be a key component of the reforms, pointing out that the government was making significant progress toward universal metering in order to do away with estimated billing and guarantee electricity billing transparency.

Additionally, he announced the launch of the Power Force program, which would use the National Power Training Institute of Nigeria to train 5,000 young Nigerians in meter installation across the country.

Nigeria has continuously produced 5,000 megawatts of electricity over the last two weeks, according to Tegbe, who attributed the improvement to improved plant availability, improved operational coordination, and stronger cooperation throughout the electricity value chain.

“Although much work remains, enhanced operational coordination, improved plant availability and better engagement across the value chain are beginning to produce measurable improvements,” he said.

However, the minister insisted that Nigeria’s power problems would not be resolved by increased electricity production alone, stating that the industry needed coordinated advancements in generation, transmission, distribution, and market payments.

The minister announced plans for a thorough technical audit of the country’s transmission network, harmonization of federal and state electricity regulations, strategic investments in the transmission corridors in Lagos, Enugu–Port Harcourt, and Abuja–Kaduna–Kano, and the implementation of what it called a “Super Grid Programme” to strengthen the country’s transmission backbone as part of the government’s sector transformation agenda.

This is a very positive development, and it brings a sigh of relief to many consumers. We remain hopeful that this is just the beginning of more beneficial changes in the power sector, leading to improved services, affordability, and stability for all.