“We are currently reviewing the implementation process of a cost-reflective tariff,” the Minister of Power, Adebayo Adelabu has disclosed.
He also said the government will continue to subsidize power supply to the vulnerable in society.
The Minister made this disclosure in his strategic direction for the power sector in 2024.
While noting the importance of closing the meter gap, he said ongoing initiatives, including World Bank programs and the Presidential Metering Initiatives, will gain momentum
He stressed that the Ministry will intervene in distribution infrastructure, supplying transformers to communities without placing the financial burden on citizens.
“Our primary focus is enhancing distribution and transmission infrastructure to minimize technical and commercial losses,” he said.
In terms of transmission, he insisted that the Transmission Company of Nigeria (TCN) will be reconstituted in the short term, separating Transmission services from System and Market operations by 2024 first quarter.
“In the medium to long-term the Transmission grid will be separated into regional grids to enable effective management”, he added. .
To improve the transmission infrastructure, he said:“we have reactivated the Presidential Power Initiative (Siemens Project) which will strengthen the national grid, and minimize technical losses.
“We will also be implementing the Eastern and Western super grid projects to strengthen the grid and increase electricity supply to demand centers in the country.”
He reiterated the Federal Government’s commitment to prioritizing electricity supply in the country .
