The Minister of Power, Adebayo Adelabu, has assured Nigerians that electricity costs may decrease in the coming months, despite growing concerns over rising tariffs.
Adelabu made this announcement during a meeting with Mr. Tosin Adeyanju, Executive Secretary of the National Lottery Trust Fund, at the Ministry of Power’s headquarters in Abuja on Thursday, October 5.
According to Adelabu, while electricity tariffs have increased, it still remains a cheaper option compared to running petrol or diesel generators due to the high cost of fuel.
He also compared Nigeria’s electricity rates to those of neighboring countries such as Togo, Mali, and Niger, emphasizing that Nigeria’s rates are still among the lowest in Africa.
Nigerians, particularly Band A customers, who receive at least 20 hours of electricity supply daily, have faced tariff hikes, with current rates standing at N209.5 per kilowatt-hour.
The increase has caused frustration among consumers, including manufacturers.
Despite these challenges, Adelabu expressed optimism about improvements in power generation and distribution, reassuring the public of the government’s efforts to provide relief through reduced electricity costs.
“We are working to ensure that Nigerians benefit from reduced electricity tariffs soon. While the price remains low compared to other African countries, the low income levels make it seem high for consumers,” he said.