He also disclosed that the introduction of band A with a higher tariff reduced electricity subsidies to N1 trillion from about N3 trillion.
The Minister of Power, Adebayo Adelabu has on Tuesday revealed that Nigeria enjoys the cheapest electricity tariffs in Sub-Saharan Africa.
It was gathered that Adelabu stated this in Abuja at a public hearing organized by the House of Representatives Joint Committee on Power, National Planning, and Delegated Legislation.
He also disclosed that the introduction of band A with a higher tariff reduced electricity subsidies to N1 trillion from about N3 trillion.
“We are still about the cheapest, even in sub-Saharan, in spite of the tariff. Our neighboring countries pay higher. So the price isn’t comparable.
“Band A is cheaper compared to other sources of generating power. It is almost 50 per cent cheaper to connect to band A of the national grid than to run on fuel and diesel.
“So when we complain about the higher tariff, it is cheaper for any business to pay for a grid connection than to individually generate power,” he said.