Nigerians may soon face another hike in electricity tariffs, according to a recent warning from a senior presidential aide. The announcement has sparked widespread concern among citizens already grappling with the economic challenges of rising inflation and fuel prices.
Thank you for reading this post, don't forget to subscribe!Naija247news gathered that the proposed tariff adjustment is part of the federal government’s broader strategy to address the financial sustainability of the power sector. The aide, who spoke on condition of anonymity, revealed that the hike could be implemented within the next few months, following a review of the current tariff structure.
According to Naija247news, the planned increase is linked to the government’s commitment to ensuring cost-reflective tariffs, a condition tied to the $1.5 billion World Bank loan aimed at revamping Nigeria’s power sector. The aide emphasized that the move is necessary to attract private investment and improve electricity supply across the country.
However, the news has been met with mixed reactions. While some stakeholders argue that the hike is inevitable for the sector’s growth, many Nigerians fear it will exacerbate the financial burden on households and businesses. Naija247news understands that the current tariff regime, introduced in 2020, has already placed significant strain on consumers, particularly those in the lower-income bracket.
In response to the announcement, labor unions and civil society organizations have vowed to resist the proposed hike. The Nigeria Labour Congress (NLC) described the move as “insensitive” and warned of potential nationwide protests if the government proceeds without addressing the underlying issues plaguing the power sector.
Naija247news reports that the electricity distribution companies (DisCos) have also weighed in, stating that the tariff adjustment is essential for maintaining operations and upgrading infrastructure. However, critics argue that DisCos have failed to justify previous hikes, citing persistent power outages and poor service delivery.
As the debate intensifies, experts are calling for transparency and accountability in the sector. They urge the government to explore alternative solutions, such as improving operational efficiency and reducing technical losses, before imposing additional financial burdens on citizens.
With another tariff hike on the horizon, Nigerians are left to wonder whether the promised improvements in power supply will materialize or if the move will further deepen the country’s energy crisis. For now, all eyes remain on the government as it navigates this contentious issue.
