President Bola Tinubu has insisted that the country must achieve regular and incremental power supply before considering an increase in electricity tariffs, The Minister of Power, Adebayo Adelabu has disclosed.
Implementation of a hike in the electricity tariff will be stopped and subsidy be paid for power consumed nationwide says Tinubu. The minister said such can only be considered only when supply and distribution improve.
Adelabu stated this at a press conference in Abuja on Wednesday, while speaking on the call for a cost-reflective tariff, which would lead to a hike in the amount payable for power.
“You cannot jump overnight and implement the cost-reflective tariff. I can tell you that, till today, the government still subsidises power,” he said, emphasising the importance of the power sector to any leader.
“Tariffs should have been raised months back, but Mr President said, until we are able to achieve regular and incremental power supply, we can’t touch the tariff,” he added.
“Now, I never said that it is not yet time to charge a cost-reflective tariff. Rather, I said a cost-reflective tariff is supposed to have been implemented months ago because it is the source of liquidity to the system.
“But for political reasons and empathy, you cannot cause an additional burden on Nigerians…”