The Minister of Power, Adebayo Adelabu, says the federal government owes electricity generation and distribution companies over N4 trillion in subsidies and…
The Minister of Power, Adebayo Adelabu, says the federal government owes electricity generation and distribution companies over N4 trillion in subsidies and unpaid bills.
He revealed that N2 trillion is legacy debt to GenCos, while N1.9 trillion is owed for 2024 subsidies. DisCos are also awaiting N450 billion in payments.
Adelabu noted that the government cannot sustain subsidies at this level and is working on a new model to support only those in need.
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