The federal government has spoken of fresh plans to hike electricity tariffs in the coming months.
Olu Verheijen, Special Adviser to the President on Energy, made this known at the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania.
Verheijen emphasised that while tariffs would be adjusted to reflect actual costs, the government intended to cushion the impact on low-income earners through targeted subsidies.
“One of the key challenges we’re looking to resolve over the next few months is transitioning to a cost-efficient but cost-reflective tariff,” she stated, adding, “So the sector generates revenue required to attract private capital, while also protecting the poor and vulnerable.”
The planned hike followed the federal government’s decision last year to approve a threefold increase in electricity tariffs for customers under the Band A classification.
Nigeria’s electricity distribution companies (DisCos), burdened by mounting debts, have been pushing for cost-reflective tariffs to improve their financial standing and service delivery.
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
