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FG to Phase Out Power Sector Subsidy From 2027
The Federal Government has announced plans to discontinue subsidy payments in Nigeria’s power sector beginning in 2027 as part of ongoing reforms aimed at improving the industry’s financial sustainability.
Minister of Power, Joseph Tegbe, disclosed the plan during a media interactive session on Friday while addressing concerns over the growing debt burden in the electricity sector.
According to the minister, the government is committed to ending the subsidy regime but assured Nigerians that the transition would be carefully managed to ensure that consumers continue to enjoy the necessary benefits.
Tegbe stressed that although the subsidy would eventually be removed, the government has no immediate plans to increase electricity tariffs. He explained that the focus remains on strengthening the power sector, reducing its debt profile, and creating a more sustainable electricity market without placing undue hardship on consumers.
The planned removal of the subsidy forms part of the Federal Government’s broader economic reforms aimed at improving efficiency, reducing fiscal pressures, and encouraging long-term investment in the country’s power sector.
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