No Electricity Tariff Hike Yet as FG Unveils Bold Reforms to Deliver Stable Power Supply

No Electricity Tariff Hike Yet as FG Unveils Bold Reforms to Deliver Stable Power Supply
The Federal Government has reassured Nigerians that there are no immediate plans to increase electricity tariffs, reaffirming its commitment to delivering reliable, affordable and sustainable power through sweeping reforms aimed at transforming the nation’s electricity sector.
The assurance was given by the Honourable Minister of Power, Joseph Olasunhanmi Tegbe, during a stakeholders’ engagement session with industry players and the media held in Lagos on Friday, July 31, 2026. The Minister described the meeting as the beginning of a new era of openness, accountability and collaboration in driving reforms across the power sector.
Tegbe explained that the government’s ongoing efforts are focused on building upon the unprecedented reforms initiated by President Bola Ahmed Tinubu, while addressing the long-standing structural challenges that have hindered the sector’s growth.
According to him, the administration’s goal is to make electricity more accessible, improve grid reliability, ensure financial sustainability within the electricity market, and restore investor confidence.
“Our objective is clear: to make electricity more available, make the grid more reliable, make the market financially sustainable, and restore investor confidence. Ultimately, we want electricity to become a catalyst for national productivity rather than a constraint to economic growth,” Tegbe stated.
The Minister emphasized that despite reports circulating on some media platforms, the Federal Government has not approved any electricity tariff increase. Instead, the administration is concentrating on delivering universal metering through the Presidential Metering Initiative to ensure transparency, fairness and accurate billing, allowing consumers to pay only for the electricity they consume.
He disclosed that the government has also prioritised investments in transmission infrastructure, expanded rural electrification, strengthened institutional coordination across the electricity value chain, and continued implementing reforms designed to attract private sector investment while safeguarding public interest.
Among the key interventions already underway is the inauguration of the Power Force Initiative, which will engage 5,000 Nigerian youths in nationwide electricity meter installation through the National Power Training Institute of Nigeria. The programme is expected to significantly reduce the country’s metering gap while creating a new generation of skilled professionals in the power sector.
Tegbe also revealed that the Ministry has made substantial progress in resolving the long-standing challenges associated with meter procurement. He added that electricity generation has shown encouraging improvements, with the national grid consistently exceeding 5,000 megawatts over the past two weeks.
Reaffirming the administration’s vision, the Minister said the Federal Government remains committed to providing reliable electricity that powers homes, competitive electricity that drives industries, sustainable electricity that attracts investment, and inclusive electricity that reaches every Nigerian.
The stakeholders’ session was attended by the Permanent Secretary of the Ministry of Power, Mahmuda Mamman, and the Managing Director of the Rural Electrification Agency, Abba Aliyu, alongside other key stakeholders in the electricity sector