FG laments over N50bn monthly electricity bill
The Minister of Power, Sale Mamman, has said that the Federal Government spends over N50 billion monthly on electricity expressing serious concern over the failure of the DiSCos to stabilize their operations to meet their financial obligations to other players in the sector.
Aaron Artimas, Special Adviser, Media and Communications to the Minister of Power who disclosed this in a statement in Abuja explained that as part of the measures to assist ordinary Nigerians over their frustration in receiving adequate electricity supply, the Federal Government was forced to categorize electricity supply into various bands between highbrow areas and low-income earners.
“Worried by the incessant complaints by ordinary Nigerians over the unavoidable and periodic increase in the cost of electricity, the Federal Government has been subsidizing electricity supply in the country to the tune of over N50 billion.
“The funds are provided to augment the shortfall by the Distribution Companies (DISCOs) who have failed to defray the cost of bulk electricity supplied to them by the Generating Companies.
“However, following a minor increase in the tariff regime, the subsidy has now decreased by half, but still constitutes a serious drain on the nation’s economy,” he said.
Mamman said that the categorization of the supply was to enable everyone to cope with the cost of electricity.
“Nigerians must understand that these companies were privatized long before the advent of this administration but the government has no alternative than to continue managing the sector before a final solution is secured.
“Through the Presidential Power Initiative and other intervention measures, the government is diligently working to massively resolve all these inherited problems that have continuously frustrated the success of the sector,” he said.