Nigeria’s Electricity Subsidy Hits N200bn

Nigeria’s electricity subsidy has risen to nearly N200 billion, with the government paying N199.64 billion in subsidies for December.

This is a 2.76% increase from November’s N194.26 billion.

According to the Nigerian Electricity Regulatory Commission, the small increase is due to changes in the exchange rate, higher inflation, and changes in power generation.

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The commission stated, “Approved tariffs shall remain in force subject to monthly adjustment of pass-through indices including inflation rate, NGN/dollar exchange rate and gas-to-power prices.”