No plans to increase electricity tariffs – FG

Tegbe said the government was focused on improving electricity supply and strengthening the financial and physical foundations of the power sector, rather than imposing additional costs on consumers. The minister’s statement comes amid concerns over the financial sustainability of the electricity market and the future of government support to the sector.

He said the sector was constrained across the entire value chain, with interconnected problems that could not be solved by simply adding new generation capacity.

“When President Bola Ahmed Tinubu entrusted me with the responsibility of serving as Minister of Power, I made four promises to Nigerians. I promised a disciplined approach to solving the sector’s problems.

I promised to pursue grid stability through structured, strategic reforms. I promised visible incremental improvements. “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,” Tegbe stated.