The federal government has announced plans to phase out electricity subsidy starting in 2027.
Minister of Power Joseph Tegbe stated the intention during a media briefing on Friday while discussing the power sector’s debt.
He stated that the government would gradually phase out the subsidy while ensuring Nigerians continue to enjoy its benefits.
The minister also reiterated that there is no plan to increase tariffs in the immediate term.
He stated that the proposed removal forms part of broader measures aimed at guaranteeing the long-term viability of the power sector while addressing the industry’s financial troubles.
Despite the scheduled subsidy removal, the minister emphasized that the government has no immediate plans to raise electricity tariffs, reassuring consumers that officials are not considering a price increase in the near term.
More details to come…
Read Also: Electricity tariff hike-Consumers fault Tinubu government over poor power supply
