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Minister of Power, Adebayo Adelabu, Declares End to Electricity Subsidies

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3 months ago

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Adebayo Adelabu, the Minister of Power, has stated that Nigeria will cease subsidizing electricity.

Minister of Power, Adebayo Adelabu, Declares End to Electricity Subsidies 3

 

The minister stated that Nigeria needs to shift towards a cost-effective tariff model, noting the country’s debts of 1.3 trillion naira to generating companies (GenCos) and 1.3 billion dollars owed to gas companies.

Adelabu made these remarks during a press conference in Abuja on Wednesday, stating that only 450 billion naira was earmarked for subsidy this year.
He emphasized that the ministry requires over two trillion naira to facilitate the subsidy.

The minister said that states will now have permission to generate power independently

Kanyi Daily recalls that a private aircraft carrying Nigeria’s Minister of Power, Adebayo Adelabu, and his team, crash-landed in Ibadan, Oyo State.

Read Also:👇🏾

  1. “We’ve Invested N900bn On Power So Far, We’re About To Invest Another N600bn” – VP Osinbajo
  2. “We Only Have 24 Hours Light When You Are Around” – Daura Elders Tells President Buhari
  3. Outrage As Nigerian Government Considers Supplying Electricity To Republic Of Chad
  4. Federal Government Begins Distribution Of Free Electricity Metres To Nigerians

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