Adelabu Optimistic On Reduction Of Electricity Tariff

The Minister of Power Adebayo Adelabu has expressed optimism of a reduction in electricity tariffs in the near future.

He spoke at a briefing in Abuja on the performance of his ministry as part of the activities to commemorate the first anniversary of President Tinubu in office.

His assurance of a reduction in tarrif follows the Nigerian Electricity Regulatory Commission’s (NERC) announcement on April 3 of a 240% tariff increase for Band A customers receiving 20-24 hour power supply.

Subsequently, in response to calls for reversal from the Nigeria Labour Congress and Trade Union Congress, the Commission reduced the tariff by N18. Despite this adjustment, Organised Labour threatened to strike, indicating dissatisfaction with the outcome.

Addressing the situation, Minister Adelabu characterized the electricity tariff hike for Band A customers as a temporary hardship, pending improvements in power sector output.

He likened the tariff adjustment to the initial price surge experienced in the telecommunication sector, which eventually led to price decreases over time.

“The electricity tariff might look expensive at the moment. But I’m optimistic that these tariffs will go down. We know how much we were buying SIM cards when the telcos just came. We know how much we were buying telephones.

“But gradually, as we scale up in generation, transmission and distribution, these prices will also decrease. It’s a temporary hardship leading to a permanent gain,” Adelabu said.

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