The presidency has refuted allegations of an impending 65 percent hike in electricity bills, characterizing recent media stories as a misunderstanding of official language.
On Monday, Olu Arowolo Verheijen, President Bola Tinubu’s special adviser on energy, stated that the Federal Government remains committed to stabilising the power industry and protecting vulnerable individuals from unwarranted cost burdens.
“It has become imperative to explain media rumors that suggest an impending 65 percent increase in electricity bills. “This is a misrepresentation of what I said in a recent press interview,” Verheijen remarked.
She explained that current power tariffs now cover around 65 percent of the real cost of supplies, following the increase in Band A tariffs in 2024, with the Federal Government continuing to fund the remainder.
“While the administration is committed to providing fairer pricing in the long run, the current focus is on taking decisive measures to deliver more to Nigerians electricity, ensure fewer outages and guarantee the protection of the poorest and most vulnerable Nigerians.
As part of its strategy, the government identified important targets for modernizing the electricity sector, including metering, targeted subsidies, debt resolution, and alternative power generation.
