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Business Nigeria Owing N95bn Electricity Subsidy


L

LequteMan

Guest
Investigations reveal that the Federal Government of #Nigeria currently owes the power distribution companies about N95bn in subsidy for electricity usage by consumers, The #Punch reports.

Out of the N100bn electricity subsidy, which was to be released to the industry between 2012 and 2013, only N5bn got to the companies.

The money, which was supposed to have been released by the Ministry of Finance, covered the N12 subsidy per kilowatt/hour of electricity that the government claimed it was currently paying on behalf of electricity consumers.

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