PANA Holdings Unveils Plan to Cut Electricity Tariffs by 25%

Dr. Daere Akobo, Chairman of PANA Holdings, has announced an ambitious initiative through the group’s infrastructure subsidiary, PANA Infrastructure, aimed at reducing electricity tariffs in Nigeria by as much as 25%. The technology-driven plan seeks to address the deep-seated inefficiencies that have long plagued Nigeria’s power sector and kept tariffs unnecessarily high.

At the heart of the strategy is a comprehensive overhaul of the grid, anchored on three practical pillars. First, the company will optimize existing infrastructure to minimize both technical and commercial losses. Second, the company seeks to replace obsolete and underperforming equipment across the grid, targeting the aging assets that contribute to frequent outages and inflated costs. Third, PANA Infrastructure is building an intelligent, predictive spare parts supply and maintenance network designed to eliminate prolonged downtimes by ensuring faster, smarter responses to system faults.

The approach combines real-time digital monitoring with proactive asset management, with the ultimate goal of creating a self-sustaining, cost-efficient energy system that delivers measurable value to Nigerian consumers. Importantly, the initiative goes beyond technology as PANA Infrastructure is also investing in local capacity building, opening up new opportunities for Nigerian engineers, technicians, and data analysts to take ownership of the country’s energy future.

About PANA Infrastructure

PANA Infrastructure, a subsidiary of PANA Holdings, focuses on critical infrastructure development across power, energy, and urban sectors in Nigeria and sub-Saharan Africa.

In July 2024, the company signed a landmark partnership with Siemens to modernize Nigeria’s electricity grid. The collaboration includes the deployment of advanced grid automation, smart metering systems, and modern low- and medium-voltage infrastructure all designed to enhance grid stability, reduce losses, and boost access to reliable electricity.

Beyond energy, PANA Holdings has also continued to expand its footprint in sustainable urban development, green building, and digital infrastructure, aligning with Nigeria’s long-term digital economy and climate goals.