FG: N120bn Spent on Subsidising Electricity Consumers in 2022 •Begins repayment of N100bn debts owed Discos by MDAs •Says next phase of 4m meters distribution to commence in Q1 •Tariff collection rise
•Says next phase of 4m meters distribution to commence in Q1The federal government yesterday said it paid N120 billion in 2022 subsidising electricity consumers in selected bands, including C,D and E, down from a N552 billion peak before the Muhammadu Buhari administration took over.
But in what appeared like a contradiction, the presidential aide noted that although the sector needs to be built to be commercially viable, government paid N120 billion as subsidy last year targeted at the lower bands. Zakari noted that when the APC government assumed office, there was no national scalable metering programme and policy on renewable energy, which he said are now in place.
“President Buhari actually withheld some funding that was available from the World Bank for a short period of time to allow us to restructure the Discos and we have a World Bank facility that will fund another 1.25 million metres. According to him, in December the sector recorded its largest collections in the history of the Nigerian power sector whereby N80 billion was received.
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