Posted by Samuel on Fri 04th Oct, 2024 - tori.ng
The assurance came in a statement released by his Special Adviser on Strategic Communication and Media, Mr. Bolaji Tunji, following a meeting with the Executive Secretary of the National Lottery Trust Fund, Mr. Tosin Adeyanju.
Adebayo Adelabu, the Minister of Power, has assured Nigerians that they will soon notice a significant decrease in their electricity bills, thanks to ongoing improvements in power generation and distribution throughout the country.
The assurance came in a statement released by his Special Adviser on Strategic Communication and Media, Mr. Bolaji Tunji, following a meeting with the Executive Secretary of the National Lottery Trust Fund, Mr. Tosin Adeyanju.
Adelabu noted that about 40% of consumers were receiving high amount of power, with the country generating an average of 5500MW. He, however, noted that “the price of electricity is still the cheapest in Nigeria, compared to other African nations such as Togo, Mali, and Niger Republic.”
He acknowledged that Nigeria’s low-income levels made the cost appear high to consumers.
Furthermore, he asserted, “It is still far cheaper to use electricity than to run generators, using petrol or diesel, given the current prices of those commodities.”
The Minister expressed optimism about the future, stating, “there is a possibility of a reduction in the current tariff as generation and distribution are ramped up.”
Currently, customers in Band-A are charged ₦206.5 per kWh following the Federal Government’s subsidy removal, which was part of an agreement to provide a minimum of 20 hours of power supply daily.
In his remarks, the National Lottery Trust Fund boss, Tosin Adeyanju, commended the Minister for his excellent performance since assuming office, particularly in restoring public confidence in the power sector. Adeyanju said, “Since 1999, we have not witnessed the level of improvement in electricity supply that we have today. Many people had begun to rely on solar energy due to the poor supply. But your efforts have restored confidence in the sector.”
Adeyanju also discussed the agency’s plans to support the Renewed Hope Agenda of President Bola Tinubu by training youths, particularly in rural areas, to assemble one kilowatt of solar energy.
“We have approached your ministry for partnership in training rural youths to help reduce unemployment and create jobs, particularly for those with vocational skills like hairdressing, vulcanizing, and welding,” he explained.