The federal government has spent over N600 billion to subsidise electricity in 2023 alone, as forex unification and high inflationary pressures pushed cost-reflective tariffs to N124/kWh. The Nigerian Electricity Regulatory Commission (NERC) revealed that the government paid N2.
8 trillion to subsidise electricity from 2015 to 2022. The minister of Power, Adebayo Adelabu, advocates for pricing gas in Naira to manage foreign currency-related inflationary trends in the sector.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: