Out of estimated over 50 million Nigerians who live in the cities and sub-urban centres and consume electricity, only a paltry 8 million pay for it.

Vice Chairman of Nigeria Electricity Regulatory Commission, Sanusi Garba stated this in London while speaking during a panel discussion at the Developing Market Associates’ UK-Nigeria Trade and Investment Forum in London.

Garba said increasing tariffs was difficult given the lack of regular power supply and the relatively few paying customers on the system, disclosing that there are currently just 8 million customers on the billing platform.

“The few that are paying are actually paying for others that are not paying,” he said of the current system.

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He however disclosed that the Commission has put a plan in motion to overhaul its energy tariff system in 3 years’ time, by 2021 to try to attract investment and improve power supply.

According to Garba, “under the plan, by 2021, tariffs, regular tariffs, will reach parity with cost-reflective tariffs”.

He said the reset plan would bring in more investors in order to add generation capacity, diversify power sources away from the gas that most of the grid relies on now, expand the transmission system and, crucially, add 10 to 20 million customers to the billing platform.

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