Despite the recent increase in electricity tariffs, the Transmission Company of Nigeria (TCN) has maintained that electricity remains cheaper in Nigeria compared to several neighbouring African nations. The new tariff, which came into effect on April 3, 2024, was implemented by the Nigerian Electricity Regulatory Commission (NERC), targeting consumers who receive at least 20 hours of power daily, classified under Band A. This revision saw the cost jump from N66 to N225 per kilowatt-hour. The timing of the increase has stirred public discontent, with many Nigerians already facing tough economic conditions, especially following the removal of the petrol subsidy.
In a recent interview on Channels Television, TCN’s Managing Director, Sule Abdulaziz, addressed the concerns. He pointed out that, despite the recent hike, electricity prices in Nigeria remain lower than those in countries like Niger, Burkina Faso, and Senegal. Abdulaziz further explained that the high cost of power production, largely driven by factors such as exchange rates and generation expenses, is responsible for the increase in tariffs.
“Electricity is now more expensive in Nigeria, but the reality is that we are still paying less than other African countries. Those in Band A, for instance, are receiving 20 to 22 hours of power daily,” Abdulaziz stated.
He also expressed optimism about the future, suggesting that Nigeria could achieve a stable power supply within the next five years. “If you ask Nigerians, many will acknowledge the improvement in electricity supply over the past year, and this progress will continue,” he added.
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