Nigeria Needs Much Higher Power Prices, President’s Adviser Says
- Increase in tariffs expected within months, Verheijen says
- Measures will be taken to shield the poor from higher costs
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Nigeria’s power prices need to rise by about two thirds for many customers to reflect the cost of supplying it and an increase can be expected within months, President Bola Tinubu’s special adviser on energy said.
Higher electricity tariffs, which need to be balanced by subsidies for less-affluent consumers, are required to fund the maintenance needed to improve reliability and to attract private investors into power generation and transmission, said the adviser, Olu Verheijen.