No plan to increase electricity tariffs –Power minister

From Adetutu Folasade-Koyi, Abuja

The Federal Government has ruled out any increase in electricity tariffs, saying it is instead tackling the power sector’s N3.3 trillion debt burden, energy theft and revenue losses.

Minister of Power, Joseph Tegbe, gave the assurance in Abuja while briefing journalists on his first 100 days in office, disclosing that the government had raised an estimated N1.23 trillion towards settling accumulated power sector debts.

“Let me categorically state, and this is not a political statement, we have no plan to increase electricity tariffs.”

Tegbe said improving billing, collection, metering and sector liquidity remained central to the government’s current interventions.

On revenue leakage, Tegbe said government interventions along the Ikorodu-Sagamu industrial corridor were addressing energy theft and other losses assessed at approximately N120 billion annually.

The figure, according to the minister’s account, represents the estimated annual revenue losses associated with the corridor rather than money already recovered by the government.

“We have also blocked revenue leakage from industrial-corridor interventions for energy theft and revenue losses assessed at approximately N120 billion annually along the Ikorodu-Sagamu corridor.

“This is good for sector liquidity and revenue protection. Better billing, collection and remittance will help preserve resources needed for reliable electricity,” he said.

On the sector’s debt burden, Tegbe said the N1.23 trillion raised by the government formed part of a wider programme to address about N3.3 trillion in accumulated obligations.

“We have raised an estimated N1.23 trillion towards settling the backlog of power-sector debt. This is a significant financing milestone.

“It forms part of the wider programme for addressing the N3.3 trillion in sector debt. This is expected to improve sector liquidity,” he said.

The minister also identified metering as a major component of the reforms, saying about 350,000 meters were installed during his first 100 days in office.

According to him, programme records showed that cumulative installations had reached 1,004,260 as of August 2026.

“Metering is central to that discipline and to consumer confidence. Approximately 350,000 meters were installed during the first 100 days.”

Tegbe disclosed that the resolution of litigation involving AMMON had unlocked the procurement of about 1.4 million smart meters across affected programmes.

Tegbe added that metering of military formations was progressing, with 90,000 installations recorded. “These developments advance an existing national effort to replace disputed estimates with measured consumption and improve revenue accountability.”

The minister also disclosed that 5,000 young Nigerians were undergoing training as smart-meter installers under the Power Force programme.

According to him, the training is intended to build the technical manpower required to sustain the nationwide deployment of meters.