The Federal Government has announced plans to review electricity tariffs for Band B and C customers as part of efforts to improve the power sector and encourage investment.
Minister of Power, Adebayo Adelabu, made this revelation during the public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan on Thursday in Abuja.
Adelabu clarified that the review does not necessarily mean an increase in tariffs but rather an assessment to enhance last year’s progress and ensure the sector’s growth.
He stated that the government aims to invest in upgrading the country’s dilapidated power infrastructure.
He also expressed concern over the slow migration of customers to Band A, attributing the delay to the lack of investment from electricity distribution companies (DisCos).
Adelabu said, “We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted.
“We are going to look at it and see how we can improve upon our modest achievement of last year, not only to ensure that we grow the sector that we need but also to ensure that we can invest more in revamping all these dilapidated infrastructures.”
“The migration to Band A should have been faster, but we found out that the DisCos refuse to invest. They have refused to invest in this sector.
“A lot of investment is required for us to achieve an accelerated migration of lower-band customers into Band A. It is taking a lot of time.”
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