The Nigerian government has announced plans to review electricity tariffs for Band B and C customers as part of efforts to enhance the power sector and attract investment.
Minister of Power, Adebayo Adelabu, revealed this on Thursday in Abuja during the public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan.
Adelabu emphasized that the review does not necessarily mean an immediate tariff increase but rather an evaluation to build on last year’s progress and ensure the sector’s long-term sustainability.
“We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted,” he stated.
“We are going to look at it and see how we can improve upon our modest achievement of last year, not only to ensure that we grow the sector but also to invest more in revamping all these dilapidated infrastructures.”
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The minister also expressed concerns over the slow migration of customers to Band A, attributing the delay to the reluctance of electricity distribution companies (DisCos) to invest in necessary infrastructure.
“The migration to Band A should have been faster, but we found out that the DisCos refuse to invest,” Adelabu said.
“A lot of investment is required for us to achieve an accelerated migration of lower-band customers into Band A. It is taking a lot of time,” he added.
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