- FG Plans to End Electricity Subsidy Payments From 2027
- Power Minister Joseph Tegbe says there is no immediate tariff increase plan.
- Government promises significant improvements in electricity supply despite sector challenges.
The Federal Government has announced plans to end subsidy payments in the power sector from 2027.
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EKO HOT BLOG reports that the Minister of Power, Joseph Tegbe, disclosed this on Friday during a media interactive session while speaking on the growing debt in the electricity sector.
Tegbe said the government would remove the subsidy but assured Nigerians that they would not be deprived of the benefits currently enjoyed under the existing arrangement.
The minister also reiterated that there was no immediate plan to increase electricity tariffs.
Meanwhile, Tegbe assured Nigerians that significant improvements in electricity supply would soon be recorded across the country.
He said the Federal Government was working to address the challenges affecting the power sector and improve the reliability of electricity supply nationwide.
The minister, however, cautioned that there was no magic wand capable of delivering an immediate turnaround in the sector, noting that the government’s ongoing efforts would gradually produce visible results.
“This is a sector that we all know has a couple of challenges and a lot of efforts is being put into this sector by this current administration. People might not appreciate it but very soon people will appreciate it,” he said.
According to Tegbe, President Bola Tinubu’s administration has invested significantly in the power sector in recent years as part of efforts to improve electricity generation, transmission and distribution.
He said the government was also working on measures to address the financial challenges affecting the sector and ensure that Nigerians receive better electricity services.
The minister acknowledged the significant challenges confronting the power sector but expressed confidence that the ongoing reforms and investments would lead to noticeable improvements.
He assured Nigerians that the government remained committed to transforming the sector and improving electricity supply across the country.
The planned removal of power subsidies from 2027 is expected to form part of broader reforms aimed at addressing the financial sustainability of Nigeria’s electricity sector.
The government is also expected to continue working with stakeholders across the power value chain to tackle challenges affecting the sector and improve service delivery to electricity consumers.
Tegbe urged Nigerians to remain patient as the government implements its plans, assuring them that efforts were ongoing to deliver a more stable and reliable electricity supply nationwide.
