FG to end electricity subsidy from 2027
The Federal Government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting debts in the power sector.
The government has previously put the subsidy burden at about N3 trillion as of February 2024, while the Association of Power Generation Companies says GenCos are owed roughly N6.
In January, the government issued a N501 billion inaugural bond under the Presidential Power Sector Debt Reduction Programme.
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