National News
BREAKING: FG unveils plans to phase out power subsidies from 2027
The Federal Government has announced plans to gradually phase out electricity subsidy payments beginning in 2027 as part of efforts to address the growing financial burden in the power sector.
Minister of Power, Joseph Tegbe, disclosed the plan on Friday during a media interactive session, where he addressed concerns over the sector’s mounting debt.
According to Tegbe, the withdrawal of subsidies will be implemented in phases to ensure a smooth transition.
He emphasized that the move would not deny Nigerians the benefits they currently enjoy, assuring citizens that measures would be put in place to protect consumers while improving the sustainability of the electricity industry.
The minister explained that the decision is aimed at tackling the sector’s financial challenges and creating a more viable power market without placing undue hardship on electricity users.
He added that the government remains committed to ensuring reliable power supply while introducing reforms to strengthen the industry.
The minister also reiterated that there is no plan to increase tariffs in the immediate term.
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