The hardship in Nigeria may go beyond the present state as FG plans to remove subsidy in the power sector.
The ongoing hardship in Nigeria became worsened upon removal of subsidy by Tinubu led administration.
Speaking in a Press conference in Abuja on Wednesday,the Minister of Power, Adebayo Adelabu, said the country must begin to move towards a cost-effective tariff model, as the country is currently owing the tune of N1.3trillion to generating businesses (GenCos) and $1.3billion due by gas firms.
He further stated that just N450billion was funded for subsidies this year, despite the fact that the ministry requires more than N2trillion in subsidies, adding that state governments would now be able to generate power independently to supply power to their respective states.
According to the Minister, the grid had collapsed six times between December 2023 and now due to a lack of gas, ageing machines in the grid value chain, insufficient capacity to evacuate generated power, and the destruction of power stations in some parts of the country’s North-East geopolitical zone.
The minister equally mentioned that over 50 billion Naira has been set aside in the 2024 budget to establish small grids to provide power to remote locations.
He warned power distribution businesses (DisCos) should sit up, or those found wanting will have their licence revoked.
The minister also stated that he had contacted Nuhu Ribadu, the National Security Adviser (NSA) to assist with the protection of power infrastructure.
Read Also: Delay In Constitution of New Cabinet Compounds Hardship In Imo
.
