Adelabu Assures Band A Feeders that Electricity Tariff May Decrease When Exchange Rate Falls Below N1000

Adebayo Adelabu, the Minister of Power, has mentioned that the N225 Kilowatt-Hour fee currently paid by electricity consumers in Band A may decrease when the exchange rate goes below N1,000 to a dollar.

“The tariff is flexible. I can tell you, if the naira gains more and the exchange rate comes down below N1,000 to a dollar, it must positively affect the tariff; and the tariff, even for Band A, will come down below the N225/KWh that we are currently charging.

“There are variable factors that go into composition of the tariff and we are not closing our eyes to it. We are publishing it, we are transparent, we are talking to Nigerians and all the power sector stakeholders. This administration is very serious and we are committed to transforming the sector,”

“The problem we are having is an accumulated problem of over 50 years, it will not disappear in one year, but we’ve been making consistent and gradual progress,” he said

Leave a Reply

Your email address will not be published. Required fields are marked *

Verified by MonsterInsights