Minister of Power, Adebayo Adelabu, on Friday, expressed optimism about reducing electricity tariffs in the country.
He further acknowledged the recent 240% tariff hike for Band A customers by the Nigerian Electricity Regulatory Commission (NERC), which was slightly reduced after labor unions protested.
Adelabu assured that the increase is temporary and comparable to initial price surges in the telecom sector, which eventually decreased.
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His words: “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.”
