Following a record peak electricity generation of 5,801.84 Megawatts achieved last week, the Minister of Power, Chief Adebayo Adelabu, has said that the proposed tariff increase will push available generation capacity to about 7,000MW.
Adelabu, in a statement by his Special Adviser on Strategic Communication, Bolaji Tunji, explained that the regularization of tariffs will play a critical role in unlocking the sector’s full potential and driving further improvements in power generation and distribution.
He stated: “To sustain these improvements the Government would have to pay down on the tariff shortfalls of N1.94 trillion for 2024 and legacy debts of N2 trillion to the GENCOs. It would be important to continue the tariff reforms to ensure consumers start to pay for the energy consumed.
“By the time the tariffs are fully regularized, we will be moving closer to 7,000 MW of available generation capacity. This will mark another significant milestone in our journey towards a stable, reliable, and efficient power sector that meets the needs of all Nigerians”.
The Minister had last week disclosed that the government intends to raise electricity tariff for customers in Bands B, C and D as part of efforts to boost the sector’s liquidity and reduce the government’s subsidy obligation to the industry. He said the planned increase will reduce the tariff gap between Band A customers and customers in other bands.
According to the statement available power generation has risen to 6,003MW and added that it was the highest in the nation’s history.
He said this was followed by another landmark within the period, when the country recorded a peak generation evacuation of 5,801.84 MW and a daily maximum energy output of 128,370.75 megawatt-hours (MWh).
He stated: “We are thrilled to announce these historic milestones in Nigeria’s power sector. The record available generation of 6,003 MW, the peak evacuation of 5,801.84 MW, and the daily maximum energy output of 128,370.75 MWh are testaments to the hard work, dedication, and strategic reforms being implemented under the leadership of the Minister of Power, Adebayo Adelabu.”
He pointed out that “these achievements are not just numbers; they represent a brighter future for Nigeria, where businesses can thrive, households can enjoy uninterrupted power supply, and the economy can grow sustainably. We pray for the sustainability of these landmark records and look forward to further improvements on all parameters in the coming days.”
Quoting the Minister, Tunji said the recent milestones are the result of concerted efforts by the Federal Ministry of Power, in collaboration with key stakeholders in the sector, to address longstanding challenges and optimize the nation’s power infrastructure.
“These efforts include the rehabilitation and upgrading of transmission and distribution networks, the implementation of innovative technologies, and the introduction of policy reforms aimed at enhancing efficiency and accountability”.
In celebrating these achievements, the Minister also called for continued support and collaboration from all stakeholders, including state governments, private sector players, and the general public, and emphasized the importance of collective efforts in sustaining the momentum and ensuring that the gains made in the sector are not only maintained but also built upon.
