The Special Adviser to the President on Energy,
Olu Verheijen, during an interview with Bloomberg in Dar es Salaam,
Tanzania. Verheijen stated that the FGN plan to transition to a
cost-efficient but cost-reflective tariff, to ensure the sector
generates revenue required to attract private capital while also
protecting the poor and vulnerable.
Furthermore, she stated that the current tariffs
cover approximately 65 per cent of the actual cost of supplying
electricity, with the federal government continuing to subsidise
the difference.
Over N200 billion is spent monthly on electricity
subsidies, but much of this support benefits the wealthiest 25 per
cent of Nigerians rather than those who truly need assistance.