Adebayo Adelabu, minister of power, says it is difficult for the federal government to continue to subsidise electricity, saying Nigeria’s debt to generation and gas companies is now N3 trillion.
Adelabu spoke at a press briefing in Abuja on Wednesday — two days after the International Monetary Fund (IMF) asked the federal government to completely phase out petrol and electricity subsidies.
In the third quarter (Q3) of 2023, the federal government spent N204.59 billion on electricity subsidy, and plans to expend an additional N1.6 trillion in 2024 to enable citizens to access power at a low cost.