Special Adviser to the President on Energy, Olu Verheijen has revealed that 25 per cent wealthiest Nigerians received the biggest share of the federal government ₦200 billion monthly electricity subsidies.
She disclosed on Monday in a post on her verified X handle to clarify media reports suggesting an imminent 65 per cent increase in electricity tariffs.
Verheijen noted: “I would like to clarify media reports suggesting an imminent 65 percent increase in electricity tariffs.
“What I actually said: ‘Following the increase of Band A tariffs, Current tariffs now cover about 65 per cent of the actual cost of supplying electricity, with the federal government continuing to subsidise the difference.”
The president’s aide assured that the federal government was committed to fair electricity pricing, protecting vulnerable Nigerians, and expanding access to reliable power.
She added: “Right now, ₦200 billion per month is spent on electricity subsidies, but the wealthiest 25 per cent of Nigerians receive the biggest share.
“To address this, we are working towards transitioning to a targeted subsidy system that ensures that low-income households receive the most support.
“Additionally, we are commencing the nationwide rollout of 7 million prepaid meters, under the Presidential Metering Initiative, beginning this year.
“This will finally put an end to the practice of estimated billing, giving consumers confidence in what they are paying for and ensuring transparency in electricity charges.”
Verheijen said beyond that, the federal is lowering energy costs by removing VAT and Customs Duties on cleaner fuel alternatives like Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG)—offering Nigerians cheaper options for power.
He stressed that the government understood the economic challenges facing Nigerians and remained committed to ensuring that power sector reforms deliver real benefits to Nigerian homes and businesses.
