The Federal Government of Nigeria has announced that Nigerians should expect another electricity tariff hike within the next few months.
Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, revealed this during the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania.
The tariff increase is part of the government’s efforts to transition to a cost-efficient but cost-reflective tariff structure, aiming to attract private investment and improve the power sector’s financial viability.
Verheijen emphasized that while the tariff hike is necessary, measures will be put in place to protect vulnerable consumers through subsidies. The government believes this move is crucial for enhancing power reliability and meeting the country’s ambitious development goals.
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