The Federal Government has denied that there are plans to increase electricity tariffs.
Minister of Power, Joseph Tegbe, stated this on Monday at a media parley in Abuja.
“Let me categorically state, and this is not a political statement, we have no plan to increase electricity tariffs,”
Tegbe insisted that the President Bola Tinubu administration was keen on improving electricity supply and strengthening the power sector, rather than imposing additional costs on consumers.
“When President Bola Ahmed Tinubu entrusted me with the responsibility of serving as Minister of Power, I made four promises to Nigerians. I promised a disciplined approach to solving the sector’s problems. I promised to pursue grid stability through structured, strategic reforms. I promised visible incremental improvements.
“Upon assuming office, the diagnosis we undertook at the onset revealed constraints at every segment of the electricity value chain. Gas supply to power stations was limited by damaged pipelines and commercial terms that discouraged investment.
“Our generation fleet was heavily dependent on thermal plants, with ageing equipment, deferred maintenance, stalled projects and capacity unable to reach consumers. The sector diagnosis revealed payment of only 27 per cent of generation companies’ bills, undermining their ability to maintain plants and pay gas suppliers,” Tegbe stated.
