Hard times await Nigerians as Tinubu govt removes subsidies on electricity

The Minister of Power, Adebayo Adelabu, has announced the end of electricity subsidies in Nigeria. Adelabu emphasized the necessity of transitioning to a sustainable tariff system, citing the country’s substantial debts of 1.3 trillion naira to power generating companies (GenCos) and 1.3 billion dollars to gas suppliers.

Speaking at a press conference in Abuja, Adelabu disclosed that only 450 billion naira was allocated for subsidies this year, far below the required two trillion naira. As a result, he emphasized the need for a shift in approach.

Adelabu further revealed that states will now have the autonomy to generate power independently, signaling a significant policy change in Nigeria’s energy sector.