The Minister of Power, Adebayo Adelabu, has said he is optimistic about the reduction of the electricity tariff.
He disclosed this on Friday during the sectoral briefing by ministers in Abuja.
According to him, the recent 240% tariff hike for Band A customers by NERC was slightly reduced after labour unions protested.
He assured that the increase is temporary and comparable to initial price surges in the telecom sector, which eventually decreased.
“The electricity tariff might look expensive at the moment. But I’m optimistic that these tariffs will go down. We know how much we were buying SIM cards when the telcos just came. We know how much we were buying telephones.”
“But gradually, as we scale up in generation, transmission and distribution, these prices will also decrease. It’s a temporary hardship leading to a permanent gain,” Adelabu said.
