The Federal Government has disclosed that it would require approximately N3.2 trillion to subsidize electricity in 2024 if the current tariff increase is to be reversed.
This revelation was made by Mr. Sanusi Garba, the Chairman of the Nigeria Electricity Regulatory Commission (NERC), during a stakeholders’ meeting organized by the House of Representatives Committee on Power in Abuja on Thursday.
According to reports, Garba emphasized that the current level of investment in the sector is insufficient to ensure consistent power supply across the nation.
He underscored the importance of addressing issues such as foreign exchange fluctuations and non-payment for gas to prevent the collapse of the sector.
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