Tinubu’s aide denies saying it, claims her speech misrepresented
By Jeph Ajobaju, Chief Copy Editor
An aide to President Bola Tinubu who reportedly floated the idea of another power tariff rise by 65 per cent has denied ever saying so, claiming her speech was misrepresented.
That claim comes on the heels of denial by Aso Rock of any plan to raise the price of electricity after a wave of pushback by citizens about the latest gambit.
Tinubu’s Energy Adviser Olu Verheijen clarified her remarks on January 30 which seemed to suggest that power prices needed to rise by approximately 66 per cent for many consumers to reflect the actual cost of electricity supply.
However, she issued a statement on Monday insisting that her remarks have been been “misrepresented” and urged the public to seek accurate context regarding her position on electricity pricing.
“It has become necessary to clarify media reports suggesting an imminent 65 per cent increase in electricity tariffs,” she said.
“This is a misrepresentation of what I actually said in a recent press interview. I highlighted the fact that, following the increase in Band A tariffs in 2024, current tariffs now cover approximately 65 percent of the actual cost of supplying electricity, with the Federal government continuing to subsidize the difference.
“Also, while the government is indeed committed to ensuring fairer pricing over the long term, the immediate focus is on taking decisive action to deliver more electricity to Nigerians, ensure fewer outages, and guarantee the protection of the poorest and most vulnerable Nigerians.
In line with these, the government’s power sector priorities include:
Presidential Metering Initiative (PMI)
“One of the most significant steps in this reform is the Presidential Metering Initiative (PMI), which is accelerating the nationwide rollout of 7 million prepaid meters, starting this year.
“This will finally put an end to the practice of estimated billing, giving consumers confidence in what they are paying for and ensuring transparency in electricity charges.
“Metering will also improve revenue collection across the sector and will attract the investments needed to strengthen Nigeria’s power infrastructure.
Targeted electricity subsidies
“Today, the federal government spends over ₦200 billion per month on electricity subsidies, but much of this support benefits the wealthiest 25 per cent of Nigerians rather than those who truly need assistance.
“To address this, the federal government is working towards a targeted subsidy system to ensure that low-income households receive the most support. This approach will make electricity more affordable and accessible for millions of hardworking families.
Settlement of legacy power debt
“Furthermore, the federal government is addressing one of the major roadblocks to improved service, the mounting debts owed to power generation companies.
“For years, these debts have prevented investments in new infrastructure and hampered efforts to improve electricity supply.
“By clearing these outstanding obligations, the government is ensuring that power companies can reinvest in better service delivery, stronger infrastructure, and a more stable electricity supply for all Nigerians.
Reducing costs for alternative power generation
“Through a range of fiscal incentives, including VAT and Customs Duty Waivers, the federal government is working to lower the cost of alternative power sources such as Compressed Natural Gas and Liquified Petroleum Gas.
“The government fully understands the economic realities facing citizens and is committed to ensuring that reforms in the power sector lead to tangible improvements in people’s daily lives.
“Every policy is designed with the Nigerian people in mind – eliminating unfair estimated billing, ensuring that subsidies benefit the right people, and creating the conditions for stable, affordable electricity.
“These reforms are laying the foundation for better service delivery, expanded access to electricity for homes and businesses, and unlocking prosperity for all Nigerians.”
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