Adebayo Adelabu, the minister of power, will be delivering a keynote speech at BusinessDay’s 2024 Energy Conference, scheduled for June 7, at the Radisson Blu Hotel, Victoria Island, Lagos.
The BusinessDay Energy Conference, themed ‘Powering Nigeria’s Energy Future: Addressing Infrastructural Challenges for Sustainable Energy Development’ will explore the electricity tariff hike, metering gap, challenges and investment opportunities in the sector.
The federal government, through the Nigerian Electricity Regulatory Commission (NERC), has deregulated the prices of Meter under the Meter Assets Provider (MAP) scheme to reflect the current economic realities.
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“The Commission has further taken cognisance of the constraints/challenges faced by MAPs and Local Meter Manufacturers/Assemblers (LMMAs) and therefore approved the deregulation of prices of meters deployed under the MAP scheme with effect from 1 May 2024.”
Before this, the Commission had also raised the tariff payable by electricity customers under band A category (Homes that enjoy up to 20 hours of electricity a day) to N225 per kilowatts hour.
Adelabu, while appearing before the senate committee on power, said the country will be thrown into darkness if the federal government does not implement the new hike in electricity tariff.
“Although citizens are bearing the brunt of the increase, it would catapult us to the next level. We made it a conditional tariff, we made it a service reflective tariff, that the only condition that can make a discriminate company charge the new tariff of N225 per kilowatt hour is they must ensure they supply a minimum of 20 hours to that consumer every day,” he said.
Meanwhile, BusinessDay listed Dafe Akpeneye, commissioner, legal, licensing & compliance division of NERC; Abba Aliyu, acting managing director & CEO Rural Electrification Agency of Nigeria and Εyo Εkpo, chief executive officer, Excredite Consulting Limited as the expected government officials and industry leaders at BusinessDay’s 2024 Energy Conference.
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