Cost of energy in Nigeria is more affordable than African countries -TCN
Abdulaziz assured that Nigeria could achieve stable power supply within the next five years
The Transmission Company of Nigeria (TCN) has stated that despite the recent hike in electricity tariffs, the cost of energy in Nigeria is still more affordable than in several neighboring African countries.
TCN Managing Director, Sule Abdulaziz, made this statement during an appearance on Channels Television’s Sunday Politics programme.
Abdulaziz explained that Nigerians are paying more for electricity because power production is expensive, citing factors like the exchange rate and the cost of generating electricity.
However, he emphasized that the price remains lower compared to other African nations like Niger, Burkina Faso, and Senegal.
“Electricity is now expensive in Nigeria, we are feeling it is expensive because we are getting it at a cheaper price. If you go to other African countries… still, now, Nigeria is cheaper,” Abdulaziz said.
He also claimed that some Nigerians, particularly those in the Band A category, now enjoy nearly round-the-clock electricity. “Nigerians are getting 24 hours supply (daily), it’s not everybody but those people on Band A, they get 20 to 22 hours,” he stated.
Abdulaziz assured that Nigeria could achieve stable power supply within the next five years, pointing to improvements in electricity supply over the last year. “If you ask Nigerians, all of them know that there is improvement in power and this improvement is going to continue,” he said.
The tariff hike, which took effect on April 3, 2024, saw the Nigerian Electricity Regulatory Commission (NERC) raise electricity costs for customers receiving at least 20 hours of power daily, classified under Band A. This increase pushed the tariff from N66 to N225 per kilowatt-hour, a move that has drawn widespread criticism due to the timing, with Nigerians already grappling with economic hardships following the removal of the petrol subsidy.
