‘FG spends N50bn monthly on electricity subsidy’ | Dailytrust

‘FG spends N50bn monthly on electricity subsidy’

The Minister of Power, Engineer Sale Mamman, has said the federal government spends N50 billion monthly to subsidise electricity supply across the country.

Receiving members of the Hausa Guild of Actors and Film Producers (Kannywood), Engr Mamman said the funds were provided to augment the shortfall of the Distribution Companies (DisCos) which had failed to defray the cost of bulk electricity supplied to them by the Generation Companies (GenCos).

However, following a minor increase in the tariff regime, the subsidy has now decreased by half, but still constitutes a serious drain on the nation’s economy.

According to a statement by Aaron Artimas, the minister’s spokesman, Mamman who was concerned about the DisCos’ instability, said the development had forced the government to partly subsidise the power sector to keep the cost of electricity within the reach of the masses.

The minister, however, said there had been milestones which included the stability of electricity at over 5,000 megawatts (MW) from 4,000MW before the President Muhammadu Buhari administration.

On metering, the minister said the government was committed to supply over six million meters free and that about one million meters had already been delivered for distribution.

He, therefore, called on the DisCos to expedite the distribution of the meters free of charge to their consumers as a way of lessening their problems.

The head of the Kannywood delegation, Mandawari Ibrahim, said they had decided to avail their services to the Ministry of Power so as to adequately enlighten Nigerians on the achievements of the Buhari administration in the power sector.

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