The Transmission Company of Nigeria (TCN) has claimed that the cost of energy in Nigeria remains more affordable compared to several neighbouring African countries, despite the recent increase in electricity tariffs.
The tariff hike, which took effect on April 3, 2024, was implemented by the Nigerian Electricity Regulatory Commission (NERC), raising rates for consumers in Band A, who receive at least 20 hours of electricity daily.
This increase pushed the tariff from N66 to N225 per kilowatt-hour, sparking widespread criticism, particularly due to its timing.
Nigerians, already struggling with economic hardships following the removal of the petrol subsidy, criticized the tariff hike and called for a review.
However, in an interview with Channels Television, TCN Managing Director Sule Abdulaziz defended the increase, stating that electricity prices in Nigeria are still lower compared to countries like Niger, Burkina Faso, and Senegal.
Abdulaziz further explained that the higher cost of electricity in Nigeria is due to the expensive nature of power production, pointing to factors such as the exchange rate and the cost of generation.
“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
“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.
