From the federal government has come a reassurance that there would not be any increase in the tariff of electricity.
Minister of Power, Mr Joseph Tegbe, who disclosed this in Abuja while speaking to Power Correspondents on his 100 days in office, said the focus of the administration of President Bola Tinubu is to stabilise the value chain, restore market discipline and strengthen governance in the power sector, rather than burden consumers with higher tariff.
Tegbe, who assumed office on June 8, stated that his first 100 days were devoted to the diagnosis and stabilisation of the power sector.
”Upon assuming office, the diagnosis we undertook at the onset revealed
constraints at every segment of the electricity value chain. gas supply to power stations was limited by damaged pipelines and commercial terms that discouraged investment.”
”Our generation fleet was heavily dependent on thermal plants, with ageing equipment, deferred maintenance, stalled projects and capacity unable to reach consumers.
”The sector diagnosis revealed payment of only 27 per cent of generation companies’ bills, undermining their ability to maintain plants and pay gas suppliers,” he said.
The minister of Power also said power transmission network faced vandalised towers and lines, overstretched equipment, and frequent tripping.
Tegbe said the distribution segment suffered aggregate technical, commercial and collection losses of 30 per cent to 40 per cent, alongside inadequate metering, estimated billing, damaged assets and weak payment discipline.
“Other gains include upgrade of substations at Apapa, Ijora, Alausa and Lekki in Lagos unlocking 672MW, and a new 300 Mega Volt Ampree (MVA) transformer at Katampe, Abuja unlocking 240MW.”
According to him, 350,000 meters were installed in 100 days, cumulative 1,004,260 as at August, and 90,000 meters in military formations.”
He also said that an estimated N1.23 trillion had been raised towards settling the N3.3 trillion power sector legacy debt to generation companies.
“Our commitments remain clear: a disciplined approach, grid stability through strategic reform, visible improvements in electricity supply, and honest communication,” he said.
