The Transmission Company of Nigeria (TCN) has asserted that the cost of electricity in Nigeria remains more affordable than in many neighboring African countries, despite a recent increase in tariffs. According to TCN Managing Director Sule Abdulaziz, Nigeria’s energy prices continue to be lower than those in nations like Niger, Burkina Faso, and Senegal.
This claim comes at a time when Nigerian citizens are feeling the financial strain of higher electricity costs. On April 3, 2024, the Nigerian Electricity Regulatory Commission (NERC) raised tariffs for consumers receiving more than 20 hours of power daily, classified under Band A.
As a result, the electricity tariff jumped from N66 to N225 per kilowatt-hour. The timing of this increase, along with the economic challenges already faced by many Nigerians, has led to public outcry and calls for a review of the tariff hike.
Many Nigerians are grappling with the financial consequences of the government’s earlier decision to remove the petrol subsidy. This move significantly raised fuel prices, further burdening households and businesses.
The recent hike in electricity tariffs has added to the pressure on consumers, particularly those in the higher usage Band A, who are now paying considerably more for their electricity.
In response to the widespread criticism, Abdulaziz defended the increase, explaining that the cost of producing electricity in Nigeria is high.
He cited factors such as the fluctuating exchange rate and the costs involved in power generation as key reasons behind the rise in tariffs. Despite the higher costs, he reassured Nigerians that their electricity prices are still lower than in many parts of Africa.
“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.
