There will soon be reduction in electricity costs - Minister assures Nigerians

Adelabu said the current electricity costs are still significantly cheaper than running diesel or petrol-powered generators considering the current prices of those commodities.

Adebayo Adelabu, the Minister of Power, has assured Nigerians that efforts are ongoing to reduce electricity costs in the coming months.

The Minister noted that the government is ramping up efforts to step up the generation and distribution of power in the country.

He made these known when he received the Executive Secretary of the National Lottery Trust Fund, Tosin Adeyanju, who led the management team of the agency to pay a courtesy call on him at the headquarters of the ministry in Abuja on Wednesday, October 3, 2024.

Despite lamentations by Nigerians, especially Band A consumers, Adelabu insisted that electricity costs are significantly cheaper than running diesel or petrol-powered generators taking into account the current prices of those commodities.

Minister says electricity cheap in Nigeria

He also noted that the price of electricity remains cheap in Nigeria compared to even other African countries such as Togo, Mali and Niger Republic.

However, he attributed the relatively high cost to the low level of income of many Nigerians.

“Nigerians can be assured of a reduction in the cost of electricity, with the current effort to step up generation and distribution of power in the country.

“The price of electricity is still the cheapest in Nigeria, compared to even other African nations such as Togo, Mali, and Niger Republic but the low level of income in Nigeria makes the cost looks high to consumers,” he said.

For his part, the Lottery boss commended the minister for his outstanding performance, competence and capacity since assuming office about a year ago.

“Permit me to address you as a performing minister of power, because since 1999, we have not witnessed the improvement that we have in the electricity supply in the country, as we have today. Before now, many were already opting for solar as supply was abysmal. But you have restored people’s confidence in the sector since you came on board”, Adeyanju said.

Adelabu says 40% Nigerians enjoy 20 hours of power

Last week, the Minister said more than 40% of Nigerians now enjoy 20 hours of power supply daily across the country.

He stated that feat was achieved through revolutionary measures taken by the Ministry of Power, with the support of President Bola Tinubu, as part of his Renewed Hope agenda to galvanise the economy.

Adelabu said the generation of more than 5,500 megawatts of power was one of the ministry’s significant achievements in the last year, with plans to improve further by the end of the year.

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