Federal Govt Pays N135bn Electricity Subsidy To Stop Tariff Hike

The N135.2 billion spent by the federal government to plug revenue generation shortfall in the power sector in the second quarter of 2023 indicated an increase of N99.21 billion, representing 275 percent compared to the N36 billion it paid in the first quarter of 2023, data obtained from the NERC quarterly report indicated.

“The government incurred a subsidy obligation of N135.23 billion in 2023/Q2, which is an increase of N99.21 billion compared to the N36.02 billion incurred in 2023/Q1.The report also showed that seven DisCos recorded over 100 per cent remittance performance in the period. These DisCos include Ikeja , Ibadan , Benin , Eko , Enugu , Jos and Yola .

During the period, the total revenue collected by all DisCos was N267.86 billion out of N354.61 billion billed to customers. During the quarter, 168,397 meters were installed under the Meter Asset Provider framework while 9,302 meters were installed under the National Mass Metering Programme NMMP framework.Following the perceived challenges in meter deployment, the commission charged the DisCos to utilise any of the five meter financing frameworks provided in the 2021 Meter Asset Provider and National Mass Metering Regulations to close their respective metering gaps.

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