N2.9tr spent on subsidy, FG still protects 85% in Nigeria
N2.9tr spent on subsidy, FG still protects 85% in Nigeria
The Minister of Power, Dr. Adebayo Adelabu yesterday, said the Federal Government has spent about N2.9 trillion on electricity subsidy. He said the government is still subsidising 85 per cent of electricity supply in the country despite an increase in tariff for Band A customers.
He said the government remains pro-poor in its power policy because it is subsidising nothing less than 67 per cent of the cost of producing, transmitting and distributing electricity in Nigeria.
According to him, the government is not ready to aggravate the sufferings of Nigerians by refusing to adopt 100 per cent withdrawal of subsidy on electricity.
Adelabu spoke at the Fourth Ministerial Briefing in Abuja with the Minister of Information and National Orientation, Mr. Mohammed Idris.
Adelabu insisted that only 15 per cent of customers were affected by the increase in tariff for those in Band A-Category.He said the tariff review has favoured about 85 per cent of electricity customers in the country.
N2.9tr spent on subsidy, FG still protects 85% in Nigeria
The Minister of Power, Dr. Adebayo Adelabu yesterday, said the Federal Government has spent about N2.9 trillion on electricity subsidy. He said the government is still subsidising 85 per cent of electricity supply in the country despite an increase in tariff for Band A customers.
He said the government remains pro-poor in its power policy because it is subsidising nothing less than 67 per cent of the cost of producing, transmitting and distributing electricity in Nigeria.
According to him, the government is not ready to aggravate the sufferings of Nigerians by refusing to adopt 100 per cent withdrawal of subsidy on electricity.
Adelabu spoke at the Fourth Ministerial Briefing in Abuja with the Minister of Information and National Orientation, Mr. Mohammed Idris.
Adelabu insisted that only 15 per cent of customers were affected by the increase in tariff for those in Band A-Category.He said the tariff review has favoured about 85 per cent of electricity customers in the country.
Go to Source Link
News Headlines
Tags
Global Local Regional Sahara Reporters Feeds
Calendar
Most Recent Blog Posts
N80Billion Fraud: I Personally Invited Yahaya Bello To My Office For Interview, He Said My Operatives Should Come To His Village –EFCC Chairman, Olukoyede
April 28, 2024Tinubu’s N15trillion Lagos-Calabar Project Is Highway To Fraud, Waste – Atiku
April 28, 2024World Bank Enables Foreign Aid Theft
January 17, 2024ANALYSIS: African Union could become irrelevant. This is why
January 3, 2024The drum for electoral reforms, By Dakuku Peterside
December 11, 2023