The Nigerian Presidency has firmly dismissed reports suggesting a 65% increase in electricity tariffs, labeling them as a misinterpretation of government policies.
Olu Arowolo Verheijen, Special Adviser to President Bola Ahmed Tinubu on Energy, clarified on Monday that there is no such hike in the works. Instead, she explained that the current tariffs already cover about 65% of the actual supply cost, following the 2024 Band A tariff adjustments. The government continues to subsidize the remaining cost to shield Nigerians from excessive financial strain.
"It is important to correct the misconception regarding a supposed 65% tariff increase. This is inaccurate,” Verheijen stated. “While we aim for more equitable pricing in the long term, our immediate priorities are improving electricity supply, reducing outages, and protecting Nigeria’s most vulnerable populations.”
To enhance power sector stability, the government has launched several reforms, including the Presidential Metering Initiative (PMI), which aims to distribute seven million prepaid meters to improve efficiency and transparency in billing. Other measures include improved subsidy management, debt resolution strategies, and increased investment in alternative energy sources.
The Federal Government remains committed to stabilizing the power sector without imposing unnecessary financial burdens on citizens.
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