FG paid just N36bn for electricity subsidy in three months — NERC.

The Nigerian Electricity Regulation Commission (NERC) has said the F.G paid the sum of N36billion to subsidise electricity consumption in the first quarter of 2023.

According to DailyTrust, NERC said in its quarterly report that the money amounted to the payment of N12 billion monthly paid to the Nigerian Bulk Electricity Trading (NBET). Charged with the collection of revenues due to generation companies and the Transmission Company of Nigeria (TCN) from the DisCos, the sum of N141.5billion was paid to the NBET from the N209.2billion invoice given to the DisCos.

NERC said the government intervention was made due to the “absence of cost-reflective tariffs, the government undertakes to cover the resultant gap (between the cost-reflective and allowed tariff) in the form of tariff shortfall funding.

This funding is applied to the NBET invoices that are to be paid by DisCos.

Subsidy here subsidy that... its well

Scrap electricity subsidy!

Though not yet, since we are not yet settled with fuel subsidy removal. But soon. Then scrap that labour subsidy called NYSC!

budaatum:
Scrap electricity subsidy!

Though not yet, since we are not yet settled with fuel subsidy removal. But soon. Then scrap that labour subsidy called NYSC!

The whole subsidy claims by the FG is all noise to loot public funds. NERC have been silently reviewing electricity tariffs since last year and have since July increased it to almost 100 naira to 1 unit. The FG have learnt a new trick of giving a dog a bad name just so they can claim to hang it

.

We just left fuel subsidy

Una don come with another one called light subsidy

We don't want..

Kwarrupt souls ... Na that light go electrocute una

Nbote:


The whole subsidy claims by the FG is all noise to loot public funds. NERC have been silently reviewing electricity tariffs since last year and have since July increased it to almost 100 naira to 1 unit. The FG have learnt a new trick of giving a dog a bad name just so they can claim to hang it

It can't be "all noise" since there would be an accounting record somewhere to confirm or deny it.

More investigation required, is what I see here.

budaatum:
It can't be "all noise" since there would be an accounting record somewhere to confirm or deny it.

More investigation required, is what I see here.

Who will investigate? The same people who are the beneficiaries

They should remove it as well. Let's know where we are

Mtcheww, and electricity bill is still high