FEDERAL GOVERNMENT REVEALS PLANS TO INCREASE ELECTRICITY TARIFFS WITHIN MONTHS

The Federal Government says Nigerians should brace up for fresh electricity tariffs in months. 

The Special Adviser to President BOLA TINUBU on Energy, OLU VERHEIJEN, stated  this in an interview in Dar es Salaam, Tanzania, while attending a World Bank-backed conference where Nigeria presented a $32 billion plan to boost electricity connections by 2030. 

 The energy adviser said Nigeria’s power prices need to rise by about two thirds for many customers to reflect the cost of supplying it.

 The move to raise tariffs comes amid mounting pressure from Nigeria’s electricity distribution companies for tariffs to be cost-reflective so they can improve their finances.