The Federal Government has confirmed that it is planning to regularise electricity tariffs.
This is in an effort to address disparities in the current billing system and also encourage investment in the power sector.
The Minister of Power, Adebayo Adelabu, stated this while speaking at the ongoing public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan on Thursday in Abuja.
Currently, customers on Band B enjoy 18 to 17 hours of electricity supply and pay N63 per kilowatt-hour.
The consumers in Band A, with only two hours more of supply, are charged N209 per kilowatt-hour.
Adelabu described this billing system as “unfair” and said there will be a more balanced and equitable pricing system.
The minister said, “We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted.
“We are going to look at it and see how we can improve upon our modest achievement of last year, not only to ensure that we grow the sector that we need but also to ensure that we can invest more in revamping all these dilapidated infrastructures.
“The gap between the Band A tariffs and Bands B, C, D, and E is just too wide.
“We believe it’s not fair. It is not just, and we must be able to carry out some level of regularisation.