The Minister of Power, Adebayo Adelabu has on Tuesday revealed that Nigeria enjoys the cheapest electricity tariffs in Sub-Saharan Africa.
It was gathered that Adelabu stated this in Abuja at a public hearing organized by the House of Representatives Joint Committee on Power, National Planning, and Delegated Legislation.
He also disclosed that the introduction of band A with a higher tariff reduced electricity subsidies to N1 trillion from about N3 trillion.
“We are still about the cheapest, even in sub-Saharan, in spite of the tariff. Our neighboring countries pay higher. So the price isn’t comparable.
“Band A is cheaper compared to other sources of generating power. It is almost 50 per cent cheaper to connect to band A of the national grid than to run on fuel and diesel.
“So when we complain about the higher tariff, it is cheaper for any business to pay for a grid connection than to individually generate power,” he said.