Nigeria’s state-owned Transmission Company of Nigeria has said the country enjoys cheap electricity should expect to pay more from April.
This was disclosed at Ikeja by the MD of TCN, Mr Usman Mohammed, who noted that the government had continued to pump money into the power sector despite privatising it more than six years ago.
Mr Usaman made the comments on Thursday when he spoke in Lagos during the groundbreaking for the replacement of old wires on the Ikeja West-Alimosho-Ogba-Alausa-Ota transmission lines.
He said, “We are working to transform the TCN to be one of the best transmission companies in the world. But I want to tell the Nigerian public that we cannot move forward if we don’t pay for electricity.
“I want to tell Nigerians that there is no relationship between poverty and payment for electricity.”
The TCN boss also revealed that Nigeria currently enjoys the cheapest electricity tariff in West Africa. He added that government had invested over N1.5tn into the sector.
Mohammed said, “We have to stop this government intervention and we can only stop it when contracts become effective. Contracts can only be effective when you have cost-reflective tariffs.”