Nigeria Spends More Than N50 Billion Monthly On Electricity – Sale Mamman

The Minister of Power, Mr Sale Mamman has come out to say that Nigeria spends over N50 billion monthly on electricity.

The Special Adviser, Media and Communications to the minister, Mr Aaron Artimas recently revealed this via a statement in Abuja.

According to him, due to the constant complains 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 make this cry a thing of the past.

He added that the funds are provided to augment the shortfall by the Distribution Companies (DiSCos), who have failed to defray the cost of bulk electricity supplied to them by the generating companies.

His words, “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 N50 billion.”

“The funds are provided to augment the shortfall by the Distribution Companies (DiSCos) who have failed to defray the cost of bulk electricity supplied to them by the Generating Companies.”

“However, following a minor increase in the tariff regime, the subsidy has now decreased by half, but still constitutes a serious drain on the nation’s economy.”

“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.”

“Through the Presidential Power Initiative and other intervention measures, the government is diligently working to massively resolve all these inherited problems that have continuously frustrated the success of the sector.”