President The Tinubu Authorities has refuted the alleged 65% electrical energy tariff hike.
PoliticalNews Nigeria reviews that President Bola Tinubu’s authorities has refuted claims that it plans to extend electrical energy tariffs by 65 per cent.
The particular adviser to President Bola Tinubu on Vitality, Olu Arowolo Verheijen, said that the Federal Authorities stays targeted on stabilising the facility sector and defending weak residents from undue value burdens.
Talking by way of an announcement on Monday, Verheijen mentioned that her earlier assertion was misrepresented.
She defined that present electrical energy tariffs now cowl about 65 p.c of the particular value of provide, following the rise in Band A tariffs in 2024, with the Federal Authorities persevering with to subsidise the distinction.
“It has turn out to be essential to make clear media reviews suggesting an imminent 65 p.c improve in electrical energy tariffs. It is a misrepresentation of what I really mentioned in a current press interview.
“Whereas the federal government is dedicated to making sure fairer pricing over the long run, the rapid focus is on taking decisive motion to ship extra electrical energy to Nigerians, guarantee fewer outages, and assure the safety of the poorest and most weak Nigerians,” Verheijen said.
As a part of its technique, the federal government outlined key priorities for reforming the facility sector, specializing in metering, focused subsidies, debt decision, and various energy era.
Verheijen highlighted that one of the crucial vital steps being taken is the Presidential Metering Initiative (PMI), which is able to see the nationwide rollout of seven million pay as you go meters beginning this 12 months.
This transfer, the presidency defined, will put an finish to estimated billing, a controversial follow that has lengthy left Nigerian households paying arbitrary quantities for electrical energy.
“The rollout of sensible meters is predicted to boost transparency in billing, give shoppers confidence in what they’re paying for, and enhance income assortment throughout the facility sector.
“Metering will appeal to the investments wanted to strengthen Nigeria’s energy infrastructure,” Verheijen mentioned.
One other key reform is the shift in direction of focused electrical energy subsidies, making certain that assist is directed to low-income households quite than benefiting wealthier Nigerians.
The federal government disclosed that it at the moment spends over ₦200 billion per 30 days on electrical energy subsidies, a lot of which advantages the richest 25 p.c of Nigerians.
“To deal with this, the Federal Authorities is working in direction of a focused subsidy system to make sure that low-income households obtain essentially the most assist,” Verheijen mentioned,