Presidency clarifies statement on proposed electricity tariff increase
Presidency clarifies statement on proposed electricity tariff increase
The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, has provided clarification on her recent comments about the projected hike in Nigeria’s electricity rates.
According to Verheijen, who was mentioned in a story on January 30, power prices in Nigeria should increase by roughly 66% for many consumers in order to more accurately reflect the true cost of providing electricity.
The special adviser also emphasised that in order to support less-affluent Nigerians, any increase in electricity rates must be carefully balanced with subsidies.
However, in a statement issued on Monday, Verheijen stated that her comments had been “misrepresented.” She clarified that, following the 2024 Band A tariff increase, current electricity tariffs now cover approximately 65% of the supply cost, with the government continuing to subsidize the remaining 35% to help bridge the gap.
“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,” she stated.
“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.
“One of the most significant steps in this reform is the Presidential Metering Initiative, which is accelerating the nationwide rollout of 7 million prepaid meters, starting this year,” she said.
“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 percent 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.”
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President Tinubu returns to Nigeria after Abu Dhabi outing
President Tinubu returns to Nigeria after Abu Dhabi outing
President Bola Tinubu has returned to Nigeria after participating in the 2026 Abu Dhabi Sustainability Week (ADSW 2026).
Presidential spokesperson, Mr Bayo Onanuga, disclosed this in a statement issued on Saturday in Abuja.
The president attended the summit alongside some members of his cabinet.
On the sidelines of the summit, Nigeria signed a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE).
The agreement is aimed at deepening economic cooperation, boosting bilateral trade and investment, and enhancing technology transfer.
It will also expand collaboration in key sectors, including energy, infrastructure, agriculture, mining and renewable energy.
In his address at the summit, Tinubu announced that Nigeria and the UAE would jointly host INVESTOPIA in Lagos in February.
The initiative is designed to attract global investors and accelerate sustainable investment inflows into Nigeria.
Tinubu also said Nigeria targets mobilising up to $30 billion annually in climate and green industrial finance.
He said the funds would support energy transition reforms and expand nationwide access to electricity. (NAN)
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APC clears air on receiving letter of defection from another State Governor
APC clears air on receiving letter of defection from another State Governor
The Zamfara chapter of the All Progressives Congress (APC) has denied receiving a letter from Gov. Dauda Lawal seeking to defect to the party.
The News Agency of Nigeria (NAN) reports that there were speculations across the state over Lawal’s move to defect to APC.
A statement issued in Gusau on Saturday by the state APC Publicity Secretary, Malam Yusuf Idris, described the speculations as fabricated.
“The party came across a fabricated report purported to have emanated from one Tambarin Gusau claiming that Go Dauda Lawal has sent a letter to the party wanting to join the APC.
“The report is malicious, unfortunate, unfounded, mischievous and showed the unprofessional manner which some people can go in misleading others and causing chaos in a stable and a peaceful party like the APC.
“The APC has responsible channels where everything is done in a guided manner,” Idris said.
According to him, the party has not received any letter from Lawal as claimed through the imagination of the writer nor was the party aware of any recent moves by the governor to defect from the PDP to the APC.
“All members of the party and indeed the public especially in Zamfara should therefore disregard such report.,” Idris added.(NAN)
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282 Passengers safe as plane makes emergency landing in Lagos
282 Passengers safe as plane makes emergency landing in Lagos
A Qatar Airways passenger plane on Friday made an emergency landing at the Murtala Mohammed International Airport in Lagos after developing a technical fault mid-flight.
The aircraft, which had 248 passengers and 12 crew members on board, was forced to land abruptly after the malfunction was detected while it was operating within Nigerian airspace.
The Lagos State Emergency Management Agency (LASEMA) confirmed the incident in a statement released by its Permanent Secretary, Dr. Olufemi Oke-Osanyintolu.
According to him, the agency was alerted to the situation through its 767 and 112 toll-free emergency lines, prompting an immediate response from emergency officials.
He explained that upon receiving the distress call, the LASEMA Response Team (LRT) was swiftly deployed to the airport to assess the situation and provide necessary support.
“Upon arrival at the scene, the LASEMA Response Team confirmed that the aircraft was in distress,” the statement noted.
“The pilot executed a safe landing on the runway at Murtala Mohammed International Airport with LASEMA Response Team and other emergency responders standing by on extreme high alert on the runway.
“Collaborative efforts of the multi-agency responders were coordinated. After proper check by the pilot and the engineering crew, the aircraft was moved to the apron for detailed inspection and prompt repairs.”
“All passengers of the distressed airplane were evacuated safely; no injuries reported, no loss of lives,” the statement said.
Despite the technical issue and the emergency landing, the agency stated that there was the aircraft experienced no major damage.
“The aircraft has been secured on the apron. Recovery activities have been completed,” the statement added.
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