FG Says No Electricity Tariff Increase For Now, Restates Commitment To Improve Better Supply

The Federal Government has affirmed its commitment to improving electricity supply for Nigerians and said there is no plan to increase electricity tariffs at this time.

The Honourable Minister of Power, Joseph Olasunkanmi Tegbe, disclosed this Friday at a stakeholders’ session in Lagos.

The session included media representatives and was described as the start of a new chapter of openness, accountability and collaboration in the power sector.

Tegbe said resetting the sector does not mean nothing has been achieved, but rather building on reforms already initiated by President Bola Ahmed Tinubu while addressing long-standing structural challenges.

“Our objective is clear. To make electricity more available, make the grid more reliable, make the market financially sustainable and restore investor confidence. Ultimately, we want to ensure that electricity becomes a catalyst for national productivity rather than a constraint to economic growth,” the Minister stated.

He noted that the President has shown strong political commitment to electricity sector reform since liberalisation, adding that “No nation has ever industrialised without reliable electricity.”

Addressing reports in some media platforms, Tegbe said there is no move to increase tariffs.

He added that through the Presidential Metering Initiative, Nigeria is moving towards universal metering to ensure consumers have transparency and only pay for the electricity they actually consume.

The Minister also said the administration has prioritised investment in transmission infrastructure, expanded rural electrification, strengthened institutional coordination across the electricity value chain, and continued reforms to encourage private capital while protecting the public interest.

Tegbe outlined several immediate interventions by the Ministry, including:

– The Power Force Initiative: The inauguration of 5,000 Nigerian youths for meter installation nationwide. The program is aimed at closing the metering gap and developing a skilled workforce in the electricity sector through NAPTIN.

– Meter Procurement: Significant progress in resolving long-standing challenges around meter procurement.

– Generation: Improvements in electricity generation, with the sector consistently crossing the 5,000MW mark over the last two weeks.

“Our ambition is clear. Reliable electricity that powers our homes. Competitive electricity that powers our industries. Sustainable electricity that attracts investment. Inclusive electricity that reaches every Nigerian,” Tegbe said.