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

Date: 15-02-2024 9:44 am (3 months ago) | Author: onuigbo felicia
- at 15-02-2024 09:44 AM (3 months ago)
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Adebayo Adelabu, the Minister of Power, has stated that Nigeria will cease subsidizing electricity.

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

Posted: at 15-02-2024 09:44 AM (3 months ago) | Addicted Hero
- fineboy77 at 15-02-2024 11:13 AM (3 months ago)
(m)
 Cool Cool Cool

Posted: at 15-02-2024 11:13 AM (3 months ago) | Addicted Hero
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- SweetDaddy1 at 15-02-2024 01:27 PM (3 months ago)
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Posted: at 15-02-2024 01:27 PM (3 months ago) | Gistmaniac
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- kp45 at 15-02-2024 09:48 PM (3 months ago)
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Fools has tried
Posted: at 15-02-2024 09:48 PM (3 months ago) | Addicted Hero
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- gogoman at 15-02-2024 11:20 PM (3 months ago)
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Posted: at 15-02-2024 11:20 PM (3 months ago) | Grande Master
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