The Nigerian government intends to cease electricity subsidy payments by 2027 to address the growing financial strain within the power industry. Minister of Power Joseph Tegbe shared this update during a media event on Friday.
Tegbe clarified that this transition is a key component of comprehensive reforms designed to make the power sector financially stable. He emphasized that the government remains committed to ensuring that vulnerable citizens are protected during this shift, noting that the Power Consumer Assistance Fund will be utilized to mitigate any potential negative impacts.
Despite the scheduled removal of subsidies, the minister explicitly stated that there are currently no plans to raise electricity tariffs in the near future. The administration aims to achieve a self-sustaining power market while avoiding additional cost burdens on consumers. Further details regarding the reform timeline and specific protections for users will be released as the project advances.
