FG to Redirect Electricity Subsidy Savings to Improve Power Supply, Social Services – Minister

Minister of Information and National Orientation, Mohammed Idris, has said that the over N1 trillion that would be saved from the withdrawal of electricity subsidy will be reinvested in improving power supply and the provision of social services for the country.

Idris stated this in Kaduna on Saturday as a guest of the popular Hausa audience participatory programme of Radio Nigeria Kaduna called “Hannu Da Yawa.”

He said the disproportionate amount of electricity subsidy, approximately 40%, is benefiting only about 15% of the electricity consumer population, comprising affluent individuals and industrial clusters, who enjoy about 20 hours of electricity.

“It is essential to emphasize that the funds to be saved from the withdrawal of electricity subsidy will be reinvested in enhancing power supply across the country and improving other vital social services such as health and education,” he said.

Idris emphasized that 85% of the population who falls under the different categorizations of the new electricity supply regime still enjoys the subsidy.

The Minister said the new Electricity Act, signed by President Tinubu, has strengthened the governance structure of the Nigerian Electricity Regulatory Commission (NERC), and empowers the Commission to place severe sanctions on electricity distribution companies for infractions relating to billings and supply of electricity to consumers.