The Federal Government has assured that approximately 85% of Nigerians still benefit from electricity subsidies, despite the recent announcement of a tariff hike by the Nigerian Electricity Regulatory Commission (NERC)
This revelation comes amidst widespread reactions from citizens following the increment in electricity tariffs, particularly for Band A customers.
According to the statement issued by the Minister of Information and National Orientation, Mohammed Idris, a significant portion of the Nigerian population continues to enjoy subsidized electricity rates under various categorizations of the new electricity supply regime.
The Minister, speaking as a guest on the radio programme “Hannu Da Yawa” in Kaduna, emphasised that the subsidy remains intact for the majority of consumers, despite the removal of subsidies for Band A customers.
The tariff hike, announced on April 3 by NERC, saw the tariff for Band A power consumers surge from N68 to N225 per kilowatt-hour with immediate effect.
This adjustment marked the elimination of electricity subsidies for Band A consumers, constituting about 15% of the total power user base in the country.
Minister Idris highlighted the disparity in subsidy distribution, noting that approximately 40% of the subsidy was benefiting only about 15% of electricity consumers, primarily affluent individuals and industrial clusters enjoying extended hours of electricity supply.
Furthermore, the Minister underscored the government’s commitment to reinvesting the over N1 trillion saved from the withdrawal of electricity subsidies into improving power supply and providing essential social services for the country.
He also emphasized the strengthening of the governance structure of the Nigerian Electricity Regulatory Commission through the new Electricity Act, signed by President Tinubu.
The Act empowers the regulatory agency to impose severe sanctions on electricity distribution companies for infractions related to billing and electricity supply to consumers.
Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
