The Federal Government has revealed it spends over N200 billion monthly to subsidize electricity for Nigerians.
This information was shared by Olu Verheijen, the Special Adviser to President Bola Tinubu on Energy, on Monday.
She noted that that the Federal Government’s power sector priorities include working towards a targeted subsidy system to ensure that low-income households receive the most support.
According to her, while the government is committed to ensuring fairer pricing over the long term, the immediate focus is on taking decisive action to deliver more electricity to Nigerians, ensuring fewer outages and guaranteeing the protection of the poorest and most vulnerable Nigerians.
In her words, “Today, the Federal Government spends over ₦200 billion per month on electricity subsidies, but much of this support benefits the wealthiest 25 per cent of Nigerians rather than those who truly need assistance. To address this, the Federal Government is working towards a targeted subsidy system to ensure that low-income households receive the most support. This approach will make electricity more affordable and accessible for millions of hardworking families.”