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Posted By OgaDeyVex On April 6th, 2024

The Federal Government has said that only a small segment of the consumers will be affected by the recent electricity hike. 

Speaking at a press conference on Friday, April 5, Minister of Power Adebayo Adelabu disclosed that the increased electricity tariff will only affect 1.5 million customers nationwide.

He Said;

“From the policy formulation perspective, the recent increase in tariff for only Band A customers which is just 15 per cent of electricity consumers in Nigeria. As of the latest statistics, there are a little about 12 million customers in the sector and this [tariff hike] would only affect about 1.5 million customers.

“The remaining 10.5 million customers will continue to enjoy the government’s subsidy at about 70 per cent.”

Adelabu further disclosed that the federal government is eyeing a “cost-reflective” tariff for electricity users. He added that the realities of the country’s economy informed the decision not to totally remove subsidy on electricity.

He said;

“The government is so sensitive to the pains of the people; to the sufferings of the people and we are not ready to aggravate this suffering any longer which is why we said it must be a journey rather than a destination.

“And the journey starts now. That we should do a gradual migration from the subsidy regime to a full cost-reflective regime and we must start with some customers. Whatever consumers pay for, there must be commensurate value for it.”

SOURCE