The power sector and electricity subsidy | The Guardian Nigeria News - Nigeria and World News

Revelation that the Federal Government pays an estimated N30 billion every month as electricity subsidy is a clear indication of an inherent disorder with the country’s public electricity supply system, given that the sector has been privatised about eight years ago; and that services emanating from it is nothing but a huge deceit of the ordinary Nigerians. Government’s plan to end subsidy payments to the sector will probably aggravate the power crisis.

Vice President Yemi Osinbajo, who disclosed the plan to end the subsidy at the opening of the 14th Nigerian Association for Energy Economics/IAEE conference in Abuja the other day, said the government expected the electricity sector to generate its revenue from the power sector market. The theme of the conference was “Strategic responses of energy sector to COVID-19 impacts on African economies.”

The Vice President is hopeful that accelerated investment of over $3 billion in transmission and distribution, into this sub-segment of the electricity value chain will put the country on the path to delivering 10 giga-watts through the interventions of the Central Bank of Nigeria, Siemens partnership, World Bank and Africa Development Bank and others.

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