FG to remove electricity subsidy in 2027, minister says

President Bola Tinubu’s government is set to remove electricity subsidy by 2027, a move that will see Nigerians pay more for power, Peoples Gazette reports.

Minister of Power Joseph Tegbe disclosed this at the inauguration of a 3-megawatt solar hybrid power project at Yakubu Gowon University on Wednesday, saying the government had been mandated to clear legacy debt in the power sector and build sustainable structures to prevent further accumulation.

“I promise you, next year, by God’s grace, we will put a stop to this so-called subsidy in the power sector,” Tegbe said, adding that Nigerian consumers would not be deprived of power and that services would improve.

The planned removal comes as Nigerians continue grappling with the effects of the 2023 fuel subsidy removal, which has driven up transportation, food and living costs nationwide.

The World Bank had earlier projected that inflationary pressure, particularly on food prices, could push about 141 million Nigerians into poverty by 2026 — a warning that now looms larger as another subsidy exit approaches.