According to the Ministry of Information and National Orientation of the Nigerian government, 85% of Nigerian consumers continue to get electricity subsidies under the Tinubu administration.
This, according to Mohammed Idris, Minister of Information and National Orientation, reaffirms the administration’s legitimacy as a pro-people democratic government.
According to him, just 15% of electricity users are impacted by the recently announced increase in electricity rates.
The minister gave a speech on Friday at the 4th Ministerial Briefing Session in Abuja.
Adebayo Adelabu, Minister of Power, and Oseni Musiliu, Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), were present during the briefing.
The recently approved rate review by NERC served as the basis for the debate.
“It makes sense that there are misconceptions and worries over the tariff review. Let me reassure all Nigerians, nevertheless, that this review is a calculated move in the direction of a more egalitarian, efficient, and sustainable electrical industry,” he stated.
He went on to say, “It creates the framework for considerable gains in infrastructure development, economic success, and service delivery. Therefore, we must continue to be unwavering in our commitment to making sure that the transformation of the electrical sector benefits every Nigerian, sustains our industries, and leads our country towards a bright future.
As you may remember, President Bola Ahmed Tinubu also signed the Electricity Act (Amendment) Bill, 2024, into law, requiring GENCOs to allocate 5% of their actual annual operating expenditures from the previous year to the development of the host communities. This strengthens the governance framework in the power sector.