The Federal Government has revealed its intention to slowly eliminate electricity subsidies starting in 2027, assuring Nigerians that this will not result in an immediate hike in power costs.
During a press conference in Abuja on Friday, Minister of Power Joseph Tegbe explained that the government aims to systematically cut subsidy payments in the electricity sector as part of broader reforms.
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He emphasized, however, that consumers will continue to benefit from the current subsidy arrangements.
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Tegbe also mentioned that there are no imminent plans to increase electricity tariffs, despite the upcoming subsidy phase-out.
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For years, Nigeria’s electricity sector has faced a funding disparity, stemming from the gap between the actual costs of generating and transmitting power and the revenue collected by distribution companies.
The Federal Government has traditionally filled this gap with subsidy payments but now intends to gradually reduce this financial support starting in 2027.
