The Minister of Power, Adebayo Adelabu, has ignited hope among Nigerians with his pledge to reduce electricity tariffs. Addressing the public during a sectoral briefing on Friday in Abuja, Adelabu expressed his confidence in the imminent reduction.
This declaration comes in the wake of significant controversy surrounding electricity tariffs, particularly after the Nigerian Electricity Regulatory Commission (NERC) announced a staggering 240 per cent hike for band A customers receiving 20-24 hours of power supply on April 3.
This decision sparked uproar, prompting widespread criticism and calls for reversal from organizations such as the Nigeria Labour Congress and Trade Union Congress.
Responding to the mounting pressure, NERC slashed the tariff by N18, but the move failed to assuage concerns, leading to threats of strike action by Organised Labour.
However, Adelabu sought to reassure the public, characterizing the tariff hike as a temporary measure necessitated by the current state of the power sector.
Drawing parallels with the early days of the telecommunications industry, he highlighted how initial high prices eventually gave way to more affordable rates as the sector matured.
“The electricity tariff might look expensive at the moment.
But I’m optimistic that these tariffs will go down. We know how much we were buying SIM cards when the telcos just came. We know how much we were buying telephones. But gradually, as we scale up in generation, transmission, and distribution, these prices will also decrease. It’s a temporary hardship leading to a permanent gain,” Adelabu affirmed.