The Federal Government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting debts in the power sector.
Minister of Power Joseph Tegbe disclosed the plan during a media interactive session on Friday, saying the subsidy would be removed gradually and consumers would not lose access to electricity services.
“We have the mandate of Mr President to clear the legacy debt and come up with sustainable structures to make sure this doesn’t pile up any more,” Tegbe said.
“I promise you, next year, by God’s grace, we will put a stop to this so-called subsidy in the power sector. Mr President, we will not deprive Nigeria of anything. We’ll make sure Nigerian consumers continue to have power and improve power services.”
The minister also said there is no immediate plan to increase electricity tariffs.
