STAKEHOLDERS ADOPT COST-REFLECTIVE TARIFFS TO TACKLE N200BN ELECTRICITY SUBSIDY

The National Council on Power has adopted a cost-reflective tariff for electricity consumption to reduce the country’s N200 bn monthly electricity subsidy.
This was contained in a communique issued by the Ministry of Power at the just-concluded 6th edition of the National Council on Power held in Maiduguri, Borno State.
However, The National Council on Power is the highest decision-making body for the power sector, comprising the Federal Government, states, the private sector, and other stakeholders.
The council adopted the view that subsidies must still exist for the vulnerable but must be targeted and well-administered at a manageable and sustainable level.