The Minister of Power, Adebayo Adelabu, announced on Tuesday that Nigeria enjoys the lowest electricity tariffs in Sub-Saharan Africa. This revelation came during a public hearing organized by the House of Representatives Joint Committee on Power, National Planning, and Delegated Legislation in Abuja.
Adelabu highlighted that despite the tariffs, Nigerian electricity prices remain among the cheapest in the region. He further explained that the introduction of Band A, which carries a higher tariff, has significantly reduced electricity subsidies from approximately N3 trillion to N1 trillion.
“We are still about the cheapest, even in Sub-Saharan Africa, in spite of the tariff. Our neighboring countries pay higher. So the price isn’t comparable," Adelabu stated.
He also emphasized the cost-effectiveness of connecting to the national grid compared to other power generation methods. “Band A is cheaper compared to other sources of generating power. It is almost 50 percent cheaper to connect to Band A of the national grid than to run on fuel and diesel," he noted.
Adelabu pointed out that, despite complaints about higher tariffs, it is more economical for businesses to pay for grid connections than to generate their own power individually.
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