The Federal Government has revealed that it spends N200 billion every month to subsidize electricity for Nigerian citizens.
Olu Verheijen, the Special Adviser to President Bola Tinubu on Energy, disclosed this information in a statement issued on Monday.
She highlighted that one of the government’s key priorities for the power sector is to establish a targeted subsidy system that focuses on assisting low-income households. While the government remains committed to ensuring fair pricing in the long run, the immediate focus is on taking decisive steps to increase electricity supply, reduce outages, and protect the most vulnerable Nigerians.
In her words, “Today, the Federal Government spends over ₦200 billion per month on electricity subsidies, but much of this support benefits the wealthiest 25 per cent of Nigerians rather than those who truly need assistance. To address this, the Federal Government is working towards a targeted subsidy system to ensure that low-income households receive the most support. This approach will make electricity more affordable and accessible for millions of hardworking families.”