Business:
No Plan To Increase Electricity Tariff, FG Insists
It says it's pursuing an energy strategy that would improve electricity supply through designated energy zone.
The Federal Government has said there is no plan to increase electricity tariffs, contrary to insinuations in some quarters of a planned increase in electricity tariffs.
It assured Nigerians that the President Bola Tinubu administration is focused on improving power supply across the country to achieve constant supply.
The Minister of Power, Joseph Tegbe, gave the assurance in Ibadan, Oyo State, during the groundbreaking ceremony for five interconnected mini-grid projects with a combined capacity of 17.7 megawatts and a 17.74-megawatt-hour Battery Energy Storage System (BESS).
The projects, located in Bola, Jiboye, Molade-Adelubi, Ogo Oluwa and Sooko-Elega, are expected to serve communities across Akinyele, Ido, Ibadan North, Egbeda and Lagelu Local Government Areas.
Addressing the gathering, the minister urged Nigerians to disregard misinformation about a possible tariff increase, declaring that the government’s priority was to ensure reliable electricity supply.
“I want to say this clearly and without ambiguity: there is no plan to increase electricity tariffs. What we are planning is a power sector that works around the clock. Our commitment is 24/7 power,” he said.
Tegbe said the Federal Government was pursuing an energy strategy that would improve electricity supply through designated energy zones, including the Lagos-Ogun corridor, Abuja-Kaduna-Kano corridor and Benin-Enugu-Port Harcourt corridor.
He added that plans were also underway to strengthen the national grid and improve generation and transmission infrastructure across the country’s eastern, western and central corridors.
The minister said the mini-grid projects would improve electricity access in beneficiary communities, reduce dependence on generators and create better conditions for businesses, investment and job creation.
He described the interconnected mini-grid initiative as part of the Federal Government’s Renewed Hope Agenda, noting that similar interventions had been implemented in communities across several states with support from the Rural Electrification Agency (REA).
Tegbe commended President Bola Tinubu for his leadership and acknowledged the contributions of the REA, project developer Paras Energy and Natural Resources Development Limited, the World Bank and the Ibadan Electricity Distribution Company.
He also recognised the Oyo State Government, traditional rulers, and other stakeholders who made the project possible.
