Monday,
October 21, 2024 -The Transmission Company of Nigeria (TCN) has
stated that despite the recent hike in electricity tariffs, the cost of energy
in Nigeria is still more affordable than in several neighboring African
countries.
TCN Managing Director, Sule Abdulaziz, made this statement during an
appearance on Channels Television’s Sunday Politics programme.
Abdulaziz explained that Nigerians are paying more for electricity
because power production is expensive, citing factors like the exchange rate
and the cost of generating electricity. However, he emphasized that the price
remains lower compared to other African nations like Niger, Burkina Faso, and
Senegal.
"Electricity is now 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... still, now, Nigeria is cheaper," Abdulaziz said.
He also claimed that some Nigerians, particularly those in the Band A
category, now enjoy nearly round-the-clock electricity. “Nigerians are getting
24 hours supply (daily), it’s not everybody but those people on Band A, they
get 20 to 22 hours,” he stated.
Abdulaziz assured that Nigeria could achieve stable power supply within
the next five years, pointing to improvements in electricity supply over the
last year. “If you ask Nigerians, all of them know that there is improvement in
power and this improvement is going to continue,” he said.
The tariff hike, which took effect on April 3, 2024, saw the Nigerian Electricity Regulatory Commission (NERC) raise electricity costs for customers receiving at least 20 hours of power daily, classified under Band A. This increase pushed the tariff from N66 to N225 per kilowatt-hour, a move that has drawn widespread criticism due to the timing, with Nigerians already grappling with economic hardships following the removal of the petrol subsidy.
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