The Minister of Power, Adebayo Adelabu, has asserted that Nigeria’s electricity prices remain the lowest in Africa despite recent hikes.
Speaking on Thursday while receiving Tosin Adeyanju, Secretary of the Lottery Trust Fund, in Abuja, Adelabu acknowledged the global struggle with food and energy security but stressed that Nigeria’s electricity rates are still the most affordable on the continent.
“All over the world today, we are faced with two basic issues, and these are food and energy security,” Adelabu remarked. “It is worth noting that the price of electricity is still the cheapest in Nigeria compared to even other African nations.”
This statement comes as Nigerians grapple with high energy costs, including the price of petrol, diesel, and electricity.
As of July 2024, Nigerian electricity distribution companies charge N209.5 per kilowatt-hour for customers in Band A, who receive 20-22 hours of power daily.
Adelabu urged Nigerians to remain patient, emphasising the government’s good intentions in addressing energy challenges.
“If Nigerians are patient, they will realize that the government means well for them,” he added.
Meanwhile, Adeyanju’s visit to the Minister aimed to explore potential partnerships in solar energy solutions.
For context, the Nigerian Electricity Regulatory Commission (NERC) approved a 240% tariff increase in April, raising prices from N66 to N225 per kilowatt-hour.
However, electricity prices in countries like Senegal (N296.10) and Togo (N353.68) remain higher than in Nigeria, though Ghana (N205.62) and Ivory Coast (N195.76) have lower tariffs.