Nigeria Power Minister Joseph Tegbe Rules Out Tariff Rise and Unveils Sector Reform Plan

Joseph Tegbe Nigeria power sector tariff hike denial Presidential Metering Initiative Power Sector Bond

Minister of Power Joseph Tegbe told reporters in Lagos that the federal government has no policy to raise electricity tariffs in the immediate term, emphasizing that the priority is improving supply, expanding universal metering and protecting vulnerable consumers. He announced a comprehensive "Resetting the Sector" agenda that includes a nationwide technical audit of the transmission network, grid upgrades, and the Power Sector Bond initiative to clear roughly N3.3 trillion of legacy debt owed to generators and gas suppliers.

The government also launched the Presidential Metering Initiative, targeting the installation of seven million prepaid meters over the next three years and training 5,000 young Nigerians to carry out meter installations. Tegbe noted that Nigeria has consistently generated about 5,000 MW in recent weeks, but stressed that reliable electricity requires reforms across generation, transmission, distribution and market financing. The Electricity Act 2023, he said, empowers states to create their own electricity markets, further encouraging private investment.

Overall, the minister reiterated that there is no plan to increase tariffs or end the electricity subsidy in the short term, and that the reforms aim to make electricity a catalyst for national productivity.

Entities: Bola Ahmed Tinubu · Joseph Tegbe · Nigeria · Nigerian Electricity Regulatory Commission · Nigerian Electricity Regulatory Commission (NERC) · Power Force programme · Power Sector Bond Initiative · Presidential Metering Initiative

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 3 SOURCES] The government is training 5,000 youths for meter installation and basic electrical engineering. (Minister of Power Joseph Tegbe)
[● 2 SOURCES] There is no plan to end the electricity subsidy in the immediate term. (Minister of Power Joseph Tegbe)
[○ 1 SOURCE] The Electricity Act 2023 empowers states to establish their own electricity markets. (Minister of Power Joseph Tegbe)
[● 2 SOURCES] The Presidential Metering Initiative plans to install seven million prepaid meters over the next three years. (Minister of Power Joseph Tegbe)
[● 3 SOURCES] The Power Sector Bond initiative aims to clear about N3.3 trillion of legacy debt owed to generation companies and gas suppliers. (Minister of Power Joseph Tegbe)
[● 5 SOURCES] The Nigerian federal government will not increase electricity tariffs in the immediate term. (Minister of Power Joseph Tegbe)
[● 3 SOURCES] Nigeria has consistently generated about 5,000 MW of electricity in recent weeks. (Minister of Power Joseph Tegbe)
[● 2 SOURCES] A nationwide technical audit of Nigeria's transmission network will be undertaken. (Minister of Power Joseph Tegbe)