The Nigerian government has announced plans to spend approximately N2.4 trillion on power subsidies before the end of the year.
This move is aimed at addressing the challenges facing the country’s power sector, which has been plagued by issues such as inadequate infrastructure, vandalism, and inefficiencies in the electricity value chain.
According to Dr. Yusuf Ali, Commissioner of Planning, Research, and Strategy at the Nigerian Electricity Regulatory Commission (NERC), the subsidy amount has fluctuated due to foreign exchange challenges and tariff adjustments.
