Sh*ck Announcement: Electricity Tariff Set To Rise Again – Tinubu’s Aide Reveals

Nigerians should prepare for another increase in electricity tariffs, as President Bola Tinubu’s Special Adviser on Energy, Olu Verheijen, has confirmed plans to raise power prices in the near future.....KINDLY READ THE FULL STORY HERE▶

Speaking at the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania, Verheijen revealed that the current tariffs need to be adjusted upward by approximately two-thirds (66%) to better reflect the actual cost of electricity supply.

“One of the major issues we aim to address in the coming months is transitioning to a cost-efficient yet cost-reflective tariff,” Verheijen explained.

She emphasized the need to find a balance between raising tariffs and continuing subsidies for low-income consumers, ensuring that electricity remains affordable while also funding system improvements, enhancing reliability, and attracting private investment.

Verheijen also stressed that Nigeria’s power sector requires substantial investment to meet the country’s energy needs and development objectives. She noted that while Nigeria has 14 gigawatts of installed power capacity, only eight gigawatts are transmitted nationwide, and just four to five gigawatts reach homes and businesses.