Electricity consumers outside the Band-A category are about to pay higher tarrifs as such plans were announced by the Federal Government.
It was said that this move aims to improve the financial stability of the Nigerian Electricity Supply Industry (NESI).
The proposed increase seeks to bring the tariffs for other customer categories closer to the N206 per kilowatt (kW) rate currently paid by Band-A customers, who are about two million in number.
Adebayo Adelabu, Minister of Power, revealed this during the public presentation of the National Integrated Electricity Policy (NIEP) and Nigeria Integrated Resource Plan (NIRP) held in Abuja. He explained that the government could no longer afford to maintain the N3 trillion subsidy on the power sector.
Adelabu also noted that power generation and distribution grew by about 35% in 2024, stressing the need for the industry to be commercially sustainable to support continued growth.
