Kehinde Fajobi
Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, has clarified reports of an impending electricity tariff increase, stating that claims of a 65% hike were a misrepresentation of her remarks on power pricing.
In a statement on Monday, Verheijen explained that current Band A tariffs only cover about 65% of the actual cost of electricity supply, with the federal government subsidising the shortfall.
She stressed that while long-term pricing adjustments are necessary, the immediate focus is on improving electricity supply and protecting vulnerable Nigerians.
“It has become necessary to clarify media reports suggesting an imminent 65 percent increase in electricity tariffs,” she said.