The Federal Government has reiterated that there is no move to increase electricity tariff.
It stated that any insinuation or report that the government is about to increase tariff is incorrect.
It noting that through the Presidential Metering Initiative, Nigeria is moving decisively towards universal metering because consumers deserve transparency, fairness and confidence that they only pay for the electricity they actually consume.
Minister of Power, Joseph Olasunhanmi Tegbe, spoke at a stakeholders’ session in Lagos on Friday.
He said: “This administration has also prioritised investment in transmission infrastructure, expanded rural electrification, strengthened institutional coordination across the electricity value chain, and continued to pursue reforms that encourage private capital while preserving the public interest.”
The minister affirmed FG’s commitment to improving electricity for Nigerians, having put in place adequate measures to achieve positive results in line with its renewed hope agenda.
He said the stakeholders’ session in Lagos, markef the beginning of a new chapter of openness, accountability and collaboration.
He said resetting the sector does not imply that nothing has been achieved; adding that it means building decisively upon the unprecedented reforms already initiated by President Bola Ahmed Tinubu, whilst addressing long-standing structural deficiencies that have prevented the sector from reaching its full potential.
“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,” Tegbe stated.
The Minister affirmed that President Tinubu, has demonstrated strong political commitment to electricity sector reform since the liberalisation of the industry, as his administration understands an undeniable truth: ‘No nation has ever industrialised without reliable electricity.’
Tegbe said the Power Ministry has immediately commenced several significant interventions, including the inauguration of the Power Force. This initiative brings together 5,000 Nigerian Youths for meter installation across the country.
He explained that this is to close the metering gap and also develop a strong, skilled pool of young Nigerians in the electricity field (NAPTIN).
He stated that other interventions include significant progress in resolving the age-long challenges surrounding meter procurement, and encouraging improvements in electricity generation.
Thr minister said that over the course of the last 2 weeks, the sector has consistently crossed the 5000MW mark.
“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.
