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FG subsidising the power sector
- Spends ₦50bn monthly
- Blames incessant tariff increases
The Minister of Power, Sale Mamman, has said the Federal Government spends a minimum of ₦50 billion subsidising power every month. The Minister made this known in a statement released by Special Adviser, Media and Communications, Mr Aaron Artimas, following the Minister’s meeting with Guild of Actors and Film Producers from Kannywood.
Mamman expressed disappointment in the failure of the Distribution Companies (DisCos) to meet their financial and performance obligations.“Worried by the incessant complaints by ordinary Nigerians over the unavoidable and periodic increase in the cost of electricity, the Federal Government has been subsidising electricity supply in the country to the tune of over ₦50 billion”, the Minister said.
The Minister also added that Nigerians must commend the efforts of the FG in the sector. He noted that most of the problems in the sector preceded the administration of President Muhammadu Buhari. He added that this administration is doing all it can to fix the problems in the sector. “Nigerians must understand that these companies were privatised 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”, he said.