‘It Was Misrepresented’ — Presidential Aide Clarifies Statement on Electricity Tariff Increase

 



Olu Verheijen, the special adviser to President Bola Tinubu on energy, has issued a clarification regarding her earlier statement about electricity tariff increases in Nigeria. On January 30, 2025, she was quoted saying that Nigeria's power prices needed to rise by about 66% to reflect the actual cost of electricity supply. She has since explained that her remarks were misrepresented.

Verheijen clarified that the current electricity tariffs cover approximately 65% of the actual supply cost, with the government continuing to subsidize the remaining 35%. She emphasized that while fairer pricing is a long-term goal, the immediate priority is to improve electricity delivery, reduce outages, and protect the most vulnerable Nigerians.

She also outlined key reforms in the energy sector, including the Presidential Metering Initiative (PMI), which aims to distribute 7 million prepaid meters and end estimated billing. The government is also addressing legacy debts owed to power generation companies and working on a targeted subsidy system to better assist low-income households.

Verheijen highlighted that the government is spending over N200 billion monthly on electricity subsidies but noted that a significant portion of this support currently benefits wealthier Nigerians. She assured that efforts are underway to ensure the support reaches those who need it most.

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