Another increase coming as FG plans to standardise electricity tariffs for band B, C customers

The Federal Government is set to implement new measures aimed at standardizing electricity tariffs across the country to eliminate discrepancies in the current billing system and attract further investments into the power sector.

This announcement was made by Chief Adebayo Adelabu, the Minister of Power, who highlighted the need for a more equitable pricing structure.

Currently, there is a significant difference in electricity rates between different customer bands. Consumers in Band B, who typically receive 17 to 18 hours of electricity supply daily, are charged N63 per kilowatt-hour.

However, those in Band A, who receive just two more hours of supply, pay a steep N209 per kilowatt-hour.

Adelabu criticised this disparity as “unfair” and called for a comprehensive overhaul of the tariff system. He emphasized that regularizing the rates would ensure a more balanced pricing model, which could, in turn, stimulate investment and create a more sustainable energy market.

“We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted.

“We are going to look at it and see how we can improve upon our modest achievement of last year, not only to ensure that we grow the sector that we need, but also to ensure that we can invest more in revamping all these dilapidated infrastructures,” he said.

The minister further explained that the transition to Band A should have progressed more quickly, but it became evident that the Distribution Companies (DisCos) have been reluctant to invest in the sector, hindering the process.

“A lot of investment is required for us to achieve an accelerated migration of lower-band customers into Band A. It is taking a lot of time,” he said.

The government is working on restructuring the tariff bands to narrow the significant gap between them, with a proposed new system that will include Bands A, B, and C.

“The gap between the Band A tariffs and Bands B, C, D, and E is just too wide,” he said. “We believe it’s not fair. It is not just, and we must be able to carry out some level of regularisation.”

JUST IN; Obasa claims Meranda resigns as Lagos State Assembly Speaker

Sacked Lagos State House of Assembly Speaker, Mudashiru Obasa, on Thursday claimed that his successor, Mojisola Meranda, had resigned as leader of the parliament.

Obasa made this assertion during an interview on Channels Television’s programme, Politics Today.

The lawmaker alleged that Meranda resigned during a peace meeting held at the Lagos House in Marina last weekend.

According to him: “At the meeting held in Marina, which was attended by all party leaders, it was made clear—hopefully in the presence of all members—that Meranda herself announced her resignation. She stated that she had stepped down.

“Now, when someone resigns from office, the associated paraphernalia is taken away. So, the question arises: Have you also resigned? Because we understand that part of the arrangement was for you to step down as well.

“Let them present the resignation letter. And if I were to resign, would I still be here? I’m sure you would still address me as Speaker, even though we’ve never had a conversation before.”