The Federal government has stated that a targeted electricity subsidy is being developed to protect vulnerable households while ensuring the long-term commercial viability of the industry.

President Bola Tinubu has approved a N4trn bond to clear verified debts owed to power generation companies and gas suppliers as part of efforts to stabilise Nigeria’s electricity market and restore confidence in the sector.

The Federal Government has approved the sum of N13 billion for critical power infrastructure projects in Lagos and Ogun States, as part of efforts to strengthen the country’s electricity supply and boost industrial growth.

The Minister of Power, Adebayo Adelabu, has once again assured Nigerians of President Bola Tinubu’s determination to ensure that citizens enjoy a full and uninterrupted electricity supply before he leaves office.

The Minister of Power, Adebayo Adelabu, has warned that Nigeria’s power sector could face imminent collapse if urgent liquidity support is not provided to offset the N4tn debt owed to power generation companies.

Electricity Subsidy Surges by 220%, Reaches Almost N2trn   The Federal Government’s electricity tariff subsidy jumped from N610bn in 2023 to N1.94tn in 2024. This represents a 219.67 per cent increase in yearly subsidy funding, despite the Band A tariff hike of April 2024. The Nigerian Electricity...