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.

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.”