President Bola Tinubu has advised Nigerians to adopt better energy management practices to mitigate rising electricity bills.
“It’s not negative to learn to manage. You learn to control your electricity bill—switch off the light. Let’s learn to manage,” the President said during a chat with reporters at his Bourdillon residence in Ikoyi, Lagos.
Tinubu, a chieftain of the All Progressives Congress (APC), also stated his opposition to price control, emphasizing instead the importance of boosting market supply. “I don’t believe in price control. We will work hard to supply the market,” he noted.
Following his inauguration in May 2023, Nigeria has experienced a sharp increase in energy costs due to the removal of petrol subsidies and a hike in electricity tariffs. Petrol prices have more than quadrupled, rising from under N200 per litre to over N1,100, while the naira has depreciated significantly, plunging from approximately N700/$ to N1,600.
On April 3, 2024, the electricity regulator raised tariffs for Band A customers, increasing the cost from N66 to N225 per kilowatt-hour. This move has been widely criticized, as many Nigerians grapple with the harsh realities of inflation and the soaring cost of living—the worst economic crisis since the country’s independence.
Despite public outcry, Tinubu has maintained that his economic reforms, though challenging, are necessary to secure Nigeria’s long-term prosperity.
