Nigeria’s Minister of Power, Adebayo Adelabu, has announced that ongoing improvements in the country’s power generation and distribution could soon lead to a reduction in electricity tariffs. This statement brings hope to millions of Nigerians who have long struggled with high energy costs.
During a meeting with Tosin Adeyanju, the Executive Secretary of the National Lottery Trust Fund, Adelabu revealed that power generation in the country had reached an average of 5,500 megawatts (MW). As a result, about 40% of electricity consumers are now receiving a significant amount of power.
In a statement on Thursday, issued by his Special Adviser on Strategic Communication and Media, Bolaji Tunji, Adelabu explained the factors driving the possibility of lower electricity costs. He emphasized that Nigeria still has the cheapest electricity prices in West Africa.
“The price of electricity in Nigeria is still the cheapest when compared to other African nations such as Togo, Mali, and Niger Republic,” he said.
Currently, customers in Band-A, who receive at least 20 hours of power daily, are charged N206.5 per kilowatt-hour (kWh). This follows the Federal Government’s decision to remove subsidies as part of its efforts to improve power supply nationwide. However, Adelabu acknowledged that the high cost of living in Nigeria makes this price seem steep to many consumers.
Despite this, the Minister highlighted the benefits of using electricity over other power sources.
“It is still far cheaper to use electricity than to run generators with petrol or diesel, especially considering the current prices of those commodities,” he explained.
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Adelabu expressed optimism about the future, indicating that as power generation and distribution continue to improve, Nigerians may see a decrease in electricity tariffs.
“There is a possibility of a reduction in the current tariff as generation and distribution are ramped up,” he stated.
Tosin Adeyanju, who praised the Minister’s leadership, highlighted the progress made in the power sector under Adelabu’s tenure.
“Since 1999, we have not seen the level of improvement in electricity supply that we are witnessing today,” Adeyanju said.
He also pointed out that before these recent improvements, many Nigerians had turned to solar energy as an alternative due to poor electricity supply.
Adeyanju credited Adelabu with restoring public confidence in the power sector and noted the positive impact the changes have had on people’s lives. He further shared that under President Bola Tinubu’s Renewed Hope Agenda, the National Lottery Trust Fund is working to empower youths, especially in rural areas, by training them to assemble solar energy systems.
“We are focused on empowering young Nigerians by teaching them how to assemble one kilowatt of solar energy,” Adeyanju added.