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We Can’t Continue to Subsidise Electricity – FG

NIGERIA can no longer continue to subsidise electricity, authorities have said.

The Minister of Power, Adebayo Adelabu, said on Wednesday that Nigeria must begin to move towards a cost-effective tariff model.

Adelabu noted that the country is currently indebted to the tune of 1.3 trillion naira to generating companies (GenCos) and 1.3 billion dollars owed to gas companies.

Speaking with journalists in Abuja, the minister disclosed that only 450 billion naira was budgeted for subsidy this year.

According to him, the ministry needs over two trillion naira to effect the subsidy.

The minister added that states will now be allowed to generate power independently.

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