In a significant move to address disparities in electricity pricing, the Federal Government plans to review the current tariff structure.
Minister of Power, Adebayo Adelabu, disclosed this information during a press briefing on Monday.
Under the current framework, Band B customers receive 17 to 18 hours of electricity daily, paying N63 per kilowatt-hour.
Meanwhile, Band A customers access 20 hours of electricity each day, leading to a significantly higher rate of N209 per kilowatt-hour.
Minister Adelabu labeled the current arrangement as “unfair,” stressing the immediate necessity for a pricing system that aligns with actual electricity supply and consumption.
This approach aims to ensure fairness and efficiency across all customer bands.
“It is imperative that we regularize these tariffs to ensure fairness and balance across all customer categories,” he stated.
The Minister further noted that the government is committed to creating a sustainable and transparent electricity market that benefits all Nigerians.
He confidently assured stakeholders that the review process would actively engage key industry players, consumer advocacy groups, and relevant parties.
Consequently, this approach ensures an inclusive and efficient outcome, fostering collaboration and transparency.
Simultaneously, this development aligns with broader reforms in the power sector, aiming to enhance service delivery.
Additionally, it addresses persistent challenges in electricity distribution and pricing, paving the way for sustainable improvements.
Further details on the timeline and implementation of the tariff review are expected to be announced in the coming weeks.