Adebayo Adelabu, the Nigerian Minister of Power has expressed that the country’s electrical subsidization can no longer be maintained.
The minister said that the country is currently running on a debt rate of 1.3 trillion dollars to gas companies and 1.3 trillion Naira to generating companies (GenCos)
During a press conference in Abuja on Wednesday, the Minister revealed that over two trillion Naira is needed to effect subsidy and that only 450 billion Naira was made available as the yearly budget for subsidy this year.
Also, Adebayo Adelabu conclusively said that states will now be running their power supplies independently.
