“Tinubu’s government announces end of electricity subsidy, warns Nigerians to brace for higher tariffs.”
The Federal Government, under President Bola Ahmed Tinubu, has announced the impending end of electricity subsidies, urging Nigerians to brace for increased tariffs. Minister of Power Adebayo Adelabu stated during a briefing that the recent tariff hike is part of a phased plan to eliminate subsidies and encourage investment in the power sector.
He emphasized the need for a gradual transition to full cost reflective tariffs, starting with Band A customers who enjoy stable power supply. Adelabu highlighted the burden of subsidies on the government and outlined plans for states to generate, transmit, and distribute power independently, following the enactment of the 2023 Electricity Act. Twelve states are reportedly in the process of establishing their regulatory bodies to oversee electricity businesses within their jurisdictions.
