Nigeria’s Minister of Power, Mr. Joseph Tegbe, says the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.
The minister told journalists during the media interactive session on Friday that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.
He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.
According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.
GIK/APA