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.
Rice, a staple for Christmas celebrations in Nigeria, has become a luxury this year. Soaring…
Panic erupted on Saturday at a concert in Lagos when the stage collapsed during Odumodublvck’s…
The Federal Government of Nigeria has allocated ₦6,364,181,224 billion for the refurbishment and rehabilitation of…
The black market dollar to naira exchange rate for today, 22nd December 2024, can be…
The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims that the 60,000 barrels per…
Manchester City finds itself in unprecedented turmoil, with relegation-level form showing little sign of improvement.…
