Friday, April 19, 2024
spot_imgspot_imgspot_imgspot_img
HomeNewsWe Can No Longer Continue To Subsidise Electricity – Minister

We Can No Longer Continue To Subsidise Electricity – Minister

The Minister of Power, Adebayo Adelabu, has declared that the country can no longer continue to subsidise electricity.

ALSO READ: Union Protests Ban On Sachet Alcohol In Abuja

According to the minister, Nigeria must begin to move towards a cost-effective tariff model, adding that the country is currently indebted to the tune of 1.3 trillion naira to generating companies (GenCos) and 1.3 billion dollars owed gas companies.

Adelabu said this when he addressed a press conference in Abuja on Wednesday, disclosing that only 450 billion naira was budgeted for subsidy this year.

He said that the ministry needs over two trillion naira to effect subsidy.

The minister said that states will now be allowed to generate power independently.

CULLED FROM DAILY

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

sildenafil generic australia on Abandoned IDP Camp Discovered In Kaduna
Daniel Grace on WORLD DOWN SYNDROME DAY
Danjuma Saddiq on THE CONSPIRACY IN SOKOTO
Yakkon Damaryam on The War against Glaucoma
Shehu Danbaki on IMG-20181125-WA0070
Seth Yamusa on Hon Danjuma Peter Averik
Ibraheem Awowole on MEET OUR PATHFINDER FOR OSUN 2018
Amb. Hoom'Suk. on Sarauniya Beauty Pageant 2017