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Minister of Power Joseph Tegbe announced the federal government’s plan to phase out electricity subsidies starting in 2027The plan follows a growing debt crisis in Nigeria’s power sector, with generation companies reportedly owed around N6.5 trillionPresident Tinubu approved a N4 trillion bond programme earlier this month to begin clearing legacy debts across the electricity value chain
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The federal government has said it will end electricity subsidies from 2027, with the Minister of Power, Joseph Tegbe, confirming the plan at a media interactive session on Friday.
Tegbe said President Bola Tinubu had given the government a direct mandate to clear existing debts in the power sector and build structures that prevent new liabilities from piling up.
President Tinubu’s administration says ending electricity subsidies will help prevent fresh debts Photo:
