The Transmission Company of Nigeria (TCN) says despite the hike in electricity tariff paid by Nigerians, the cost of energy is still cheaper in Nigeria than in some neighbouring countries.
TCN Managing Director, Sule Abdulaziz, stated this on Channels Television yesterday.
He said Nigerians are paying more for power because electricity production is not easy and that citizens on Band A now enjoy 24-hour electricity, a claim many residents would contest.
“Nigerians are getting 24 hours supply (daily), it’s not everybody but those people on Band A, they get 20 to 22 hours,” Abdulaziz said.
“Nigerians are paying more because to produce electricity is not easy. You can see the exchange rate.
“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, you go to Niger, you go to Burkina Faso, you go to Senegal, still, now, Nigeria is cheaper.”
He assured Nigerians that the country can get a stable power supply in less than five years, saying that there has been significant improvement in electricity supply in the last 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) raised electricity tariff for customers enjoying 20 hours power supply daily. Customers in this category are said to be under the Band A classification. The increase saw the customers paying N225 kilowatt per hour from N66, a development that has been heavily criticised by many Nigerians, considering the immediacy of the tariff hike and the current hardship in the land.
The quadruple increase in electricity tariff was implemented at a time Nigerians are still grappling with the biting effects of petrol subsidy removal which saw the cost of the petrol rise as high as five folds.
