The Federal Government has dismissed reports of an imminent 65% hike in electricity tariffs, clarifying that ongoing discussions are focused on price adjustments and a fairer subsidy system.
Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, addressed the speculation on Monday, stating that her remarks had been misrepresented in the media.
“It has become necessary to clarify media reports suggesting an imminent 65% increase in electricity tariffs. This is a misrepresentation of what I actually said in a recent press interview,” Verheijen explained.
According to her, the government currently spends over ₦200 billion monthly on electricity subsidies, but much of this benefits the wealthiest 25% of Nigerians rather than those who need it most.
“Our focus is on taking decisive action to deliver more electricity to Nigerians, ensure fewer outages, and protect the poorest and most vulnerable households,” she said.
Verheijen added that while tariff adjustments are being considered to reflect the true cost of electricity, the priority remains implementing a targeted subsidy system to ensure that low-income households receive the most support.
“This approach will make electricity more affordable and accessible for millions of hardworking families,” she assured.
