Nigeria’s payment of subsidy on electricity has gulped a total of N633.30bn in the first quarter of 2024. This figure represents an increase of 151% from N252.76bn previously reported by the Nigerian Electricity Regulatory Commission (NERC). In its latest data,…
The Federal Government spent N628.61 billion as subsidy on electricity in 2023, as power distribution companies collected a total revenue of N1.08 trillion during the same period, the latest industry data obtained from the Nigerian Electricity Regulatory Commission during the…
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies. In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three percent of the…
The Peoples Redemption Party (PRP) has advised the Federal Government to reject the advice of the International Monetary Fund (IMF) to phase out petrol and electricity subsidies. The PRP acting National Publicity Secretary, Mr Muhammed Ishaq, gave the advice in an…
Mr Sanusi Garba, Chairman, Nigerian Electricity Regulatory Commission (NERC), says the Federal Government will continue to subsidise electricity to ease the financial burden on Nigerians due to economic challenges in the country . Garba said this during a news conference…
