The federal government has assured Nigerians that the tariff review on electricity was a strategic step towards a more sustainable, efficient, and equitable electricity sector.
The Minister of Information and National Orientation, Mohammed Idris, who spoke at the 4th Ministerial Briefing Session held in Abuja on Friday, stated that the Tinubu administration is sustaining electricity subsidy as only 15 percent of the electricity consumer population are affected by the recently announced hike in electricity tariffs.
He maintained that since 85 percent of Nigerian consumers are still enjoying electricity subsidy, it justifies the Tinubu administration’s credential as a pro-people democratic government.
“Misconceptions and concerns around the tariff review are understandable. However, let me reassure every Nigerian that this review is a strategic step towards a more sustainable, efficient, and equitable electricity sector.
“It lays the groundwork for significant improvements in service delivery, infrastructure development, and economic prosperity. Our focus must, therefore, remain steadfast on ensuring that the electricity sector’s transformation benefits all Nigerians, supports our industries, and propels our nation towards its bright future,” he said
The minister also added that the President had signed the Electricity Act (Amendment) Bill, 2024, into law to further strengthen the governance structure in the power sector.
“You would also recall that President Bola Ahmed Tinubu signed the Electricity Act (Amendment) Bill, 2024, into law to further strengthen the governance structure in the power sector and mandate the GENCOs to set aside 5 percent of their actual annual operating expenditure from the preceding year for the development of the host communities.
“The act also removed electricity from the exclusive list to empower the state government to generate and distribute electricity to residents,” he said.
The briefing which also featured Minister of Power Adebayo Adelabu and Vice Chairman of the Nigerian Electricity Regulatory Commission, (NERC) Oseni Musiliu, threw more light on the recently approved tariff review by NERC.