The Federal Government has denied are no plans to increase the electricity tariff by 65 per cent in the country.
Special Adviser to President Bola Tinubu on energy,Olu Arowolo Verheijen,disclosed this in a statement on Monday.
She had attended a World Bank-sponsored conference in Dar es Salaam, Tanzania, where she presented a $32 billion plan to boost electricity connections by 2030 on behalf of Nigeria.
She was reported to have said Nigeria’s power prices need to rise by about two-thirds for many customers to reflect the cost of supplying it.
She quoted in the statement that she was misrepresented,as she only meant that the current tariffs cover 65 per cent of the electricity supply cost.
She said:“It has become necessary to clarify media reports suggesting an imminent 65 percent increase in electricity tariffs.
“This is a misrepresentation of what I actually said in a recent press interview. I highlighted the fact that, following the increase in Band A tariffs in 2024, current tariffs now cover approximately 65 percent of the actual cost of supplying electricity, with the Federal government continuing to subsidize the difference”.
She expressed Federal Government’s commitment to ensuring fairer pricing, taking decisive action to deliver more electricity to Nigerians, ensuring fewer outages, and guaranteeing the protection of the poorest and most vulnerable Nigerians.
