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Published on 2024-04-07 16:43:40
The Minister of Power, Chief Adebayo Adelabu, recently addressed the need for a complete overhaul of the power sector in order to achieve consistent and reliable power supply in Nigeria. During a press conference to introduce the new tariff regime for Band A customers, the Minister emphasized the government’s commitment to addressing the root causes of the power sector’s challenges and providing consumers with the electricity service they deserve.
Chief Adelabu acknowledged the economic challenges facing the country, such as the removal of subsidies on petrol, the floating of the Naira, and the high inflation rate. He reassured Nigerians that the government is working to minimize any further burden on them amidst these economic difficulties. The Minister highlighted that currently, the government covers 67 percent of the cost of power production, transmission, and distribution, which amounts to more than 10 percent of the National budget.
In the context of the recent tariff increase, Chief Adelabu clarified that it only applies to consumers in the Band A category, which represents 15 percent of customers. The government will continue to subsidize electricity for other consumers, with the goal of gradually transitioning them to Band A over three years. Customers in this category will enjoy 20 to 24 hours of electricity per day at a cost of N225 per kilowatt, which is more cost-effective than relying on diesel and generators.
The Minister stressed the importance of making the power sector more attractive to investors in order to address issues such as infrastructure deficits, gas availability, and power generation, transmission, and distribution. He highlighted the need to bridge the metering gap and generate the necessary funds to tackle these challenges. Chief Adelabu emphasized the decentralization of the sector and the importance of consumer protection, noting that distribution companies must deliver on their promise of providing 20 hours of electricity per day.
In addition to increasing generation capacity through projects like renewable energy and the Zungeru project, the Ministry is also focused on combating vandalism, installing new power lines, and advocating for energy conservation among consumers. The Minister encouraged Nigerians to manage their energy consumption effectively while ensuring they receive value for the money they spend on electricity.
Overall, Chief Adebayo Adelabu’s vision for the power sector in Nigeria includes a strategic plan to improve service delivery, attract investments, and provide consumers with reliable and affordable electricity. The government is committed to addressing the challenges facing the sector and delivering on its promises to Nigerians.
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