FG To Phase Out Electricity Subsidies From 2027

The federal government has announced plans to begin phasing out electricity subsidy payments from 2027 as part of efforts to address challenges in the power sector.

The Minister of Power, Joseph Tegbe, disclosed this on Friday during a media interaction, while speaking about the sector’s growing debt burden.

Tegbe said the subsidy would be removed gradually, assuring Nigerians that the process would be carefully managed to ensure consumers were not deprived of the benefits currently enjoyed.

He also reiterated that the federal government has no immediate plans to increase electricity tariffs.

The minister said further details of the subsidy phase-out plan would be unveiled in due course.