BREAKING: Nigerian Govt to stop electricity subsidy payments from 2027

The Federal Government has announced plans to extremity energy subsidy payments from 2027 arsenic portion of efforts to tackle mounting liabilities successful the powerfulness sector.

This was disclosed by the Minister of Power, Joseph Tegbe, astatine a media interactive league on Friday.

The curate stated that the Federal Government would signifier retired subsidies opening successful 2027, assuring Nigerians that the argumentation would not deprive citizens of the benefits presently enjoyed nether the subsidy regime.

According to him, the connection removal forms portion of broader reforms aimed astatine ensuring the semipermanent sustainability of the energy assemblage portion tackling the fiscal challenges confronting the industry.

Tegbe explained that contempt the planned subsidy withdrawal, determination are nary contiguous plans to summation energy tariffs, reassuring consumers that the authorities is not considering a tariff hike successful the abbreviated term.

“The phase-out of energy subsidies volition statesman from 2027. However, determination are nary contiguous plans to summation energy tariffs. Our extremity is to physique a commercially viable powerfulness assemblage portion protecting susceptible consumers,” helium said.

“The Power Consumer Assistance Fund volition play a captious relation successful cushioning the interaction connected susceptible consumers arsenic we instrumentality these reforms,” the curate stated.

He pointed retired that the implementation timeline ...