The Chief Executive Officer of Royal Power and Energy, Olasupo Odugbesan, has stated that solar energy is now a more cost-effective alternative compared to the recently introduced Band A electricity tariff in Nigeria.
Speaking at a renewable energy summit, Odugbesan highlighted that the rising cost of electricity tariffs has made solar power an increasingly attractive option for both households and businesses.
According to him, despite the initial setup cost of solar systems, long-term benefits such as lower electricity bills and energy independence make it a better investment. He urged the government to provide more incentives for renewable energy adoption, including tax waivers and grants for solar installations.
Many Nigerians have expressed frustration over the Band A tariff, which applies to areas receiving a minimum of 20 hours of electricity daily. With concerns over affordability, industry experts predict a shift towards alternative energy sources as consumers seek more sustainable solutions.