NIGERIA: President Tinubu Stops Electricity Price Hike, Aims for Brighter Power Future

WRITTEN BY: CHIOMA MADONNA NDUKWU

President Tinubu’s administration has halted the proposed electricity tariff hike, emphasizing the need for subsidies nationwide. Minister of Power, Adebayo Adelabu, announced a plan to scrutinize the legality of the five-year license extension for privatized power companies. He highlighted the government’s cautious approach to tariff adjustments, addressing concerns about a cost-reflective tariff. Adelabu expressed disappointment in Nigeria’s power generation capacity and emphasized the need for accountability within the sector. The administration is investigating the extension of power sector licenses, with a focus on legality and contractual validity. Overall, the government aims to ensure sustainable and reliable electricity supply.

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