FG unveils fresh electricity tariff plans for Band B and C consumers

The Federal Government has announced plans to review the electricity tariff structure for consumers in Bands B and C, aiming to address billing disparities and encourage further investment in the power sector. Minister of Power, Adebayo Adelabu, disclosed this on Thursday, February 27, during the presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan in Abuja. Adelabu clarified that the review does not necessarily mean an increase in tariffs but rather an effort to improve the current system. “We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted,” he stated. READ ALSO: FG moves to strengthen trust in power sector trading According to him, the review is essential to ensuring that the electricity sector grows while attracting more investments to rehabilitate the country’s ageing power infrastructure. “We are going to look at it and see how we can improve upon our modest achievement of last year, not only to ensure that we grow the sector but also to invest more in revamping all these dilapidated infrastructures,” he added. The minister also criticised electricity distribution companies (DisCos) for their reluctance to invest in infrastructure, which has slowed the migration of consumers to Band A. READ ALSO: Nigeria losing $29bn annually due to lack of electricity – Adesina “The migration to Band A should have been faster, but we found out that the DisCos refuse to invest. They have refused to invest in this sector,” Adelabu said. The government’s move signals a fresh push for reforms in Nigeria’s electricity industry, aiming to create a more stable and investor-friendly environment.