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Fashola Begs Nigerians To Accept Electricity Tariff Increase

Minister of Power, Works and Housing Mr. Babatunde Fashola, said Nigerians should expect increase in electricity tariff soon. “By far t...

Babatunde Fashola


Minister of Power, Works and Housing Mr. Babatunde Fashola, said Nigerians should expect increase in electricity tariff soon.



“By far the most complex challenge is the problem of tariff. It is
complex because it is more in the hands of citizens than in the hands of
Government,” Fashola said.


“The role of Government is to set the tariff and in doing so,
Government has committed to what is called a Multi-Year Tariff Order.
This was done in order to attract investors to the market; otherwise we
will not have achieved the privatization if the price of the product is
not attractive to the investors.


“The tariff is the price of producing power. It covers cost of
generation, gas purchase, transportation, transformers, staff costs and
so on, disaggregated and charged per kilowatt/hour to make the business
of power profitable.


“What Government did was to spread it over a number of years so that
the impact is not felt at once but over a periodic incremental process. I
know that it has been a contentious matter, but I make this fervent
appeal to consumers to give us the benefit of doubt, to forbear and
accept it.”


Speaking further, the Minister noted that the amount of power that is
available today is slightly larger than the capacity which the
transmission network can support. “We have identified a total of 142
(One Hundred and forty-two) projects of which 45 are at 50 percent level
of completion and about 22 (twenty-two) can be completed within a year.


“The budget estimates are known and we intend to aggressively pursue
completion to increase the carrying capacity from the generating
companies, GENCOs to the distribution companies, DISCOs,” Fashola said.


He also indicated that the Ministry of Petroleum has signified their
interest to build certain critical pipelines to transport gas to the
power plants that will add another 2,000 mega watts to the national grid
within 12-15 months.

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