The Federal Government paid a total of N36 billion to subsidise electricity consumption in the country in the first quarter of 2023, the Nigerian Electricity Regulation Commission (NERC) has said.
NERC stated this in its quarterly report, adding that the money amounted to the payment of N12bn monthly which was paid to the Nigerian Bulk Electricity Trading (NBET).
With the NBET charged with the collection of revenues due to generation companies and the Transmission Company of Nigeria from the DisCos, NERC revealed that the sum of N141.5bn was paid to the NBET from the N209.2bn invoice given to the DisCos.
