Special Adviser to the President on Energy, Olu Arowolo Verheijen, has clarified recent media reports suggesting an imminent 65 percent increase in electricity tariffs, stating that her comments on the topic were misrepresented.
Reacting to media reports on the said comment in a statement she issued on Monday, Verheijen emphasized that her remarks during a recent press interview were inaccurately reported.
“It has become necessary to clarify media reports suggesting an imminent 65 percent increase in electricity tariffs. This is a misrepresentation of what I actually said,” she stated.
She however assured Nigerians that the federal government is committed to improving electricity supply across the country, with a focus on metering, subsidy reform, and debt settlement in the power sector.
She explained that following the adjustment of Band A electricity tariffs in 2024, current charges now cover approximately 65 percent of the actual cost of supplying electricity, with the Federal Government continuing to subsidize the remaining portion.
“While the government remains committed to fairer electricity pricing over the long term, our immediate focus is on delivering more power to Nigerians, reducing outages, and ensuring the protection of the poorest and most vulnerable citizens,” Verheijen stated.
Verheijen outlined several initiatives under the administration’s energy sector reform, emphasizing the government’s commitment to metering, targeted subsidies, and debt reduction.
A central pillar of the government’s power sector reform is the Presidential Metering Initiative, which aims to roll out 7 million prepaid meters across the country, starting in 2025.
“This initiative will put an end to estimated billing, ensuring that Nigerians pay only for the electricity they consume. It will also improve revenue collection, making the power sector more attractive to investors,” she explained.
Verheijen noted that the federal government currently spends over ₦200 billion monthly on electricity subsidies, she however highlighted that much of this support disproportionately benefits the wealthiest 25 percent of Nigerians rather than low-income households.
“As part of ongoing reforms, the government is developing a targeted subsidy system to ensure that assistance reaches those who need it most. This will make electricity more affordable and accessible for millions of hardworking families,” she said.
The government is also addressing the longstanding debts owed to power generation companies, which have hindered investments in new infrastructure and limited improvements in electricity supply.
“By clearing these debts, power companies will have the financial capacity to reinvest in infrastructure upgrades and service improvements, ultimately leading to a more stable and reliable electricity supply for Nigerians,” Verheijen stated.
In addition to addressing issues within the national grid, the government is implementing fiscal incentives—including VAT and Customs Duty Waivers—to reduce the cost of alternative power sources such as Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG).
According to Verheijen, these measures reflect the administration’s recognition of the economic realities facing Nigerians and its commitment to ensuring that power sector reforms deliver tangible benefits to citizens.
“Every policy is designed with the Nigerian people in mind—eliminating unfair estimated billing, ensuring subsidies benefit the right people, and creating conditions for stable, affordable electricity,” she said.
She assured Nigerians that these reforms are laying the foundation for better service delivery, expanded electricity access for homes and businesses, and long-term economic prosperity.
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