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FG to increase electricity tariff as subsidy scrabbed

Nigeria’s Minister of Power, Abubakar Aliyu, recently discussed the potential need for an increase in electricity tariffs. This is due to the rising costs of fuel and the need to maintain and improve the country’s power infrastructure.

While the government is still considering its options, any increase in tariffs would be gradual and would take into account the impact on consumers. It’s important to note that the Minister emphasized that this is not a definite decision, but the Minister explained that the rising cost of fuel has put a strain on the country’s power sector.

He also noted that the country’s power infrastructure is in need of upgrades and repairs, which would require additional funding. While these are difficult circumstances, the Minister stressed that any changes to electricity tariffs would be made carefully and with the best interests of Nigerians in mind.

So, the Minister also discussed the current state of the power sector in Nigeria. He acknowledged that there have been some improvements in recent years, but that there is still much work to be done.

He pointed out that the country’s power grid is still not as reliable as it should be, and that many people still do not have access to electricity.

He said that the government is working hard to address these issues, but that it will take time and effort to make significant progress.

The Minister also mentioned the challenges that the power sector faces in terms of investment and financing. He said that there is a need for more private sector investment, but that it can be difficult to attract investors due to the high risk involved.

He stressed the importance of creating an environment that is conducive to investment, and said that the government is working on policies and incentives to encourage investment in the power sector.

The Minister also discussed the issue of power theft, which is a major problem in Nigeria. He said that it is estimated that around 30% of electricity generated in the country is lost due to theft.

This has a significant impact on the country’s economy, and the Minister said that the government is working to address this issue through a combination of law enforcement and public education.

Absolutely! So, the Minister also talked about the government’s efforts to increase access to electricity through rural electrification programs.

He noted that these programs have made progress, but that there is still a long way to go. He also mentioned the need for more renewable energy sources, such as solar and wind power, in order to reduce the country’s reliance on fossil fuels.

He said that the government is committed to increasing the share of renewable energy in the country’s electricity mix.

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