The Federal Government has said it is not considering any increase in electricity tariff for now, offering relief to millions of electricity consumers across the country.
Speaking during a media interaction in Lagos on Friday, Minister of Power, Joseph Tegbe, said the government’s immediate focus is on improving electricity supply, strengthening the national grid and ensuring the long-term sustainability of the power sector rather than raising tariffs.
Addressing concerns over a possible tariff hike, Tegbe stated: “Our priority is not tariff increase in the immediate term. Our objective is clear, to make electricity more available, make the grid more reliable, make the market financially sustainable and restore investor confidence.
“We want to ensure that electricity becomes a catalyst for national productivity rather than a constraint to economic growth.
“Indeed, the Federal Government will continue to examine additional mechanisms for protecting vulnerable consumers whilst simultaneously improving the financial sustainability of the market.”
Tariff: FG Prioritises Grid Upgrade
The minister, who assumed office about 50 days ago, also outlined one of the key priorities of his administration, a comprehensive technical audit of the country’s electricity transmission infrastructure.
According to Tegbe, the audit is intended to provide a clear understanding of the current state of the transmission network before major investments are made. He explained that identifying the system’s weaknesses is essential to delivering lasting improvements across the sector.
Speaking on the exercise, he said: “Our first priority is the comprehensive technical audit of the transmission segment of our electricity network.
“One cannot effectively rebuild what one has not properly diagnosed. The audit will identify ageing assets, overloaded substations, weak transmission corridors, protection failures, system bottlenecks and operational vulnerabilities.
“This exercise will provide the factual basis for prioritising investments, reducing system failures, improving planning and ensuring that every naira invested delivers measurable value.”
Tegbe added that the findings from the audit would guide investment decisions, improve planning and help reduce system failures while ensuring that resources allocated to the power sector achieve measurable results.
Looking ahead, the minister disclosed that the Federal Government will immediately begin strategic investments in three major transmission corridors as part of efforts to improve electricity delivery nationwide.
According to him, “A stable grid is the foundation of reliable electricity. Consequently, we shall immediately commence strategic investments in three critical transmission corridors: Lagos Corridor; Enugu–Port Harcourt; and Abuja– Kaduna–Kano. Within the next 2-3 years, Nigerians should experience a stronger grid, reduced technical losses, improved market discipline, greater investor confidence, expanded electricity access and significantly higher operational capacity.”
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