By Bunmi Aduloju

The federal government says it has no immediate plans to increase electricity tariffs in Nigeria.

There have been reports that the federal government intends to raise electricity tariffs.

Speaking during a media interactive session in Lagos on Friday, Joseph Tegbe, the minister of power, said there is no plan for such increase.

He said through the presidential metering initiative, Nigeria is moving decisively towards universal metering as consumers deserve transparency, fairness and the assurance that they pay only for the electricity they consume.

Tegbe said the President Bola Tinubu administration remains committed to improving electricity supply, adding that measures have been put in place to deliver results in line with the renewed hope agenda.

According to the minister, the briefing marks the beginning of a new phase of openness, accountability and collaboration in the power sector

Tegbe said efforts to reset the sector do not imply that nothing has been achieved, noting that it means building decisively upon the unprecedented reforms already initiated by Tinubu.

“Our objective is clear. To make electricity more available, make the grid more reliable, make the market financially sustainable and restore investor confidence,” he said.

“Ultimately, we want to ensure that electricity becomes a catalyst for national productivity rather than a constraint to economic growth.”

Tegbe affirmed that Tinubu has demonstrated strong political commitment to electricity sector reform since the liberalisation of the industry, as his administration understands an undeniable truth that “no nation has ever industrialised without reliable electricity”.

“This administration has also prioritised investment in transmission infrastructure, expanded rural electrification, strengthened institutional coordination across the electricity value chain, and continued to pursue reforms that encourage private capital while preserving the public interest,” the minister added.

Tegbe said the power ministry has immediately commenced several significant interventions, including the inauguration of the Power Force.

He said the programme will engage 5,000 Nigerian youths to install electricity meters nationwide, helping to bridge the country’s metering gap while building a skilled workforce for the sector through the National Power Trai.ing Institute of Nigeria (NAPTIN).

Tegbe added that the ministry has also made significant progress in resolving longstanding challenges surrounding meter procurement and improving electricity generation, noting that grid output has consistently exceeded 5,000 megawatts over the past two weeks.

“Our ambition is clear. Reliable electricity that powers our homes. Competitive electricity that powers our industries. Sustainable electricity that attracts investment. Inclusive electricity that reaches every Nigerian,” the minister said.

Tegbe also announced the federal government’s plans to phase out subsidy payments in the power sector from 2027.

Source: TheCable