- The Nigerian Electricity Regulatory Commission (NERC) has announced a 2.76% increase in electricity subsidies for December to N199.64 billion.
- Abuja and Ikeja are the top beneficiaries of the subsidies, with N29.10 billion and N26.68 billion, respectively.
- The increase in subsidies is due to the rise in exchange rate, inflation, and changes in available generation capacity.
- The Executive Director of the Electricity Consumers Protection Centre, Chief Princewill Okorie, has criticized the subsidies, stating that they are meaningless without adequate power supply.
The Nigerian Electricity Regulatory Commission (NERC) has announced that the Federal Government’s electricity subsidies for December will increase by 2.76% to N199.64 billion, up from N194.26 billion in November. Abuja and Ikeja are the top beneficiaries, with subsidies of N29.10 billion and N26.68 billion, respectively. The increase is attributed to the rise in exchange rate, inflation, and changes in available generation capacity. However, the Executive Director of the Electricity Consumers Protection Centre, Chief Princewill Okorie, has criticized the subsidies, stating that they are meaningless without adequate power supply. He argued that the government cannot continue to fund the Distribution Companies (DisCos) while they fail to provide reliable services,
