Nigeria Power Minister announces no immediate electricity tariff hikes

Nigeria’s Minister of Power, Joseph Tegbe, has marked his first 100 days in office by announcing a focus on stabilizing the electricity value chain rather than increasing consumer costs. Tegbe categorically stated that the Federal Government has no immediate plans to increase electricity tariffs, despite the sector's significant financial challenges.

Key achievements reported during this period include the installation of approximately 350,000 electricity meters, bringing cumulative installations to over 1 million as of August 2026. The ministry also reported the restoration of the 375MW Alaoji open-cycle power plant and upgrades to substations in Lagos and Abuja, which unlocked significant transmission capacity. Generation and transmission levels have reportedly risen above 5,000MW.

To address the sector's N3.3 trillion debt, the ministry has raised approximately N1.23 trillion. However, industry experts warned that the decision to freeze tariffs could exacerbate revenue shortfalls for Distribution Companies (DisCos), as the cost of supply continues to exceed collections. The minister noted that the sector currently faces issues such as aging equipment, gas supply constraints, and high technical and commercial losses.