Power Holding Company MD has asked the FG to hike electricity tariffs.
Philips News reports that the Managing Director and Chief Executive Officer of the Niger Delta Power Holding Company, Jennifer Adighije, has urged the Nigerian government to hike electricity tariffs for Band B-E users in Nigeria.
This newspaper understands that the Niger Delta Power Holding Company Managing Director made this call in a recent statement in Lagos, Nigeria’s commercial city.
Adighije noted that the removal of subsidies for all electricity users would ensure financial stability in Nigeria’s power sector.
According to her, establishing a financially viable electricity market is essential for restoring investor confidence, attracting private sector participation, and ensuring sustainable sector growth.
“In addition, liquidity constraints within the electricity market remain a major concern, as only about 30 percent of sector invoices are currently settled, creating financial strain across the value chain.
“To address these systemic issues, there should be the decoupling of government subsidies from electricity tariffs and the gradual implementation of fully cost-reflective tariffs across all customer segments,” she said.
Philips News recalls that in April 2024, the federal government approved an electricity tariff hike for Band A customers under the service-based tariff.
Despite the hike, Nigerians have continued to face epileptic power supply nationwide.
