Aug 19, 2026 (Daily Trust/All Africa Global Media via COMTEX) --
The Managing Director of the Abuja Electricity Distribution Company (AEDC), Engr. Chijioke Okwuokenye, has stated that increased investment in the power sector will enable Nigerians to reduce the cost of electricity.
Speaking during an appearance on Trust TV, Okuokenye said more investments into the sector would increase the generation pool while tariffs would go down.
He, however, said investment won't come in with the current subsidy payment by the federal government.
While emphasizing that subsidy is a policy of the federal government, he stated that it won't be difficult for electricity customers to pay cost reflective tariff as some rural communities on solar mini-grids pay more than N300 per kilowatt hour.
He said, "I do know that there are rural communities where we have mini-grids and they pay tariffs in excess of N300. I know communities that have not seen power in the past 20 years and eventually power comes to them and they are being asked to pay tariffs of N400, and they are happy.
"Sometimes we take certain things for granted because they are there. The alternative to grid power is actually self-generation, and what is the cost of self-generation? These are some of the questions we need to ask ourselves. I know that even if the subsidy is removed, that money will be channelled towards other areas that should better the lives of Nigerians and make things easier. So, I would say we shouldn't panic about the talk about the removal of subsidy as long as it is done right and the overall impact is for the betterment of the country."
He stated that Nigeria is at the stage where energy has to be priced right and the true cost of energy has to be paid.
"That is the only way we can bring investments into this sector. That is the only way we can start encouraging industrialisation. I would also tell you that the more investments come in, the more we increase the generation pool, the more the tariff would go down," he said.
He added that as volume in energy delivered across the grid increases, the average unit cost of energy will come down.
"I think we should encourage people to pay properly for energy, let more investments come in, let generation across the grid increase, and eventually Nigerians will be happier for it. There will be more jobs. The tariff would eventually come down. The lives of people will be improved. It's going to impact health and education. Once there is more energy, even the cost of other services that are high today, including healthcare, will come down. The attendant and eventual effect on people's lives would be an improved lifestyle," the MD stated.
COMTEX_491047007/2029/2026-08-19T23:02:49
by Faruk Shuaibu
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