The Transmission Company of Nigeria (TCN) has said that despite the surge in electricity tariffs, the cost is still lower in Nigeria than in neighbouring countries.
In an interview on Channels Television, TCN Managing Director Sule Abdulaziz said Nigerians are paying more for power because electricity production does not come easily, and customers on Band A now enjoy 24-hour electricity.
“Nigerians are getting 24-hour supply (daily), it’s not everybody, but those people on Band A get 20 to 24 hours,” Abdulaziz said.
“Nigerians are paying more because to produce electricity is not easy. You can see the exchange rate.
“Electricity is not expensive in Nigeria. We are feeling it is expensive because we are getting it at a cheaper price. If you go to other African countries, you go to Niger, you go to Burkina Faso, you go to
Senegal, still, now, Nigeria is cheaper.”
He stated that Nigeria could achieve a consistent power supply in less than five years, emphasising the significant progress made in electricity supply over the past year.
“If you ask Nigerians, all of them know that there is improvement in power and this improvement is going to continue.”
On April 3, 2024, the Nigerian Electricity Regulatory Commission (NERC) increased the electricity tariff for Band A customers receiving 20 to 24 hours of power supply daily. This resulted in customers paying N225 kilowatt per hour, up from N66, a move that received widespread criticism from many Nigerians, given the immediate tariff hike and the current economic challenges.
The increase in electricity tariff was introduced when Nigerians were already struggling with the harsh impact of the removal of petrol subsidies, leading to a fivefold increase in petrol prices.