NewStats: 3,262,190 , 8,176,387 topics. Date: Sunday, 01 June 2025 at 09:09 AM 45ch

6z3e3g

FG Spends ₦200b On Electricity Subsidy Monthly – Olu Verheijen - Politics - Nairaland 4t3w6e

FG Spends ₦200b On Electricity Subsidy Monthly – Olu Verheijen (5020 Views)

nlfpmod: 5:46pm On Feb 03

Olu Verheijen, Special Adviser to the President on Energy (Nigeria) clarifies:

I would like to clarify media reports suggesting an imminent 65 percent increase in electricity tariffs.

What I actually said: Following the increase of Band A tariffs, Current tariffs now cover about 65% of the actual cost of supplying electricity, with the Federal Government continuing to subsidize the difference.

The Federal Government is committed to fair electricity pricing, protecting vulnerable Nigerians, and expanding access to reliable power.

Right now, ₦200 billion per month is spent on electricity subsidies, but the wealthiest 25% of Nigerians receive the biggest share. To address this, we are working towards transitioning to a targeted subsidy system that ensures that low-income households receive the most .

Additionally, we are commencing the nationwide rollout of 7 million prepaid meters, under the Presidential Metering Initiative, beginning this year. This will finally put an end to the practice of estimated billing, giving consumers confidence in what they are paying for and ensuring transparency in electricity charges.

Beyond that, we’re lowering energy costs by removing VAT and Customs Duties on cleaner fuel alternatives like Compressed Natural Gas (CNG) and Liquefied Petroleum Gas (LPG)—offering Nigerians cheaper options for power.

We understand the economic challenges facing Nigerians and remain committed to ensuring that power sector reforms deliver real benefits to Nigerian homes and businesses.

https://x.com/OluVerheijen/status/1886355787674481011?t=VVobSObXmqJGrqAlH4H3WA&s=19

3 Likes 1 Share

joceey(m): 5:51pm On Feb 03

Hmmmm dis our government self no like us at al.

2 Likes

RollinTNDA: 5:51pm On Feb 03

Money wey i for use play sure 2.oods .

1 Share

AqualinaXYZ: 5:51pm On Feb 03

God will punish Tinubu and his family

They’ll have a problem money can’t solve

32 Likes 2 Shares

Http40k(m): 5:52pm On Feb 03

E be like say Dem want to tell us another story again oo

11 Likes

SalamRushdie: 5:52pm On Feb 03

How when the average cost of electricity in Nigeria is almost at par with America?

There is brazen fraud going on in that sector..

What is being subsidized there exactly ?

14 Likes

merits(m): 5:52pm On Feb 03

nlfpmod:
Olu Verheijen, Special Adviser to the President on Energy (Nigeria) clarifies:

https://x.com/OluVerheijen/status/1886355787674481011?t=VVobSObXmqJGrqAlH4H3WA&s=19

And we are here yet to see positive results... though it is well.

1 Like

Racoon(m): 5:53pm On Feb 03

Crooked criminals. Lies never tire them. Wicked souls in government.

16 Likes

ValarDoharis: 5:53pm On Feb 03

Tilumbu running a corrupt and opaque government. Subsidy is gone but money is being stolen as subsidy through the backdoor

8 Likes 1 Share

Wealthoptulent(m): 5:53pm On Feb 03

nlfpmod:
Olu Verheijen, Special Adviser to the President on Energy (Nigeria) clarifies:

https://x.com/OluVerheijen/status/1886355787674481011?t=VVobSObXmqJGrqAlH4H3WA&s=19

where dem dey PUMP the LIGHT? every where dey DARK all |NIGHT deff na SUN LIGHT dey cover for dem During DAY
abi na Dem dey SUPPLY HELLFIRE LIGHT wey dey RUN from GENERATIONS to ETERNITY?

ClassicMan202(m): 5:54pm On Feb 03

Omo.... What this istration cannot do does not exist

Talkisneeded(m): 5:54pm On Feb 03

Season 2 on the hardship story..

I sell herbs tho

1 Like

dynicks(m): 5:55pm On Feb 03

They wan increase tariffs again!!...

3 Likes

Tajbol4splend(m): 5:55pm On Feb 03

Majority will argue this but if the electricity subsidy is removed and we have its stability, it will drive production which reduce importation and as a result catapult the value of Naira

1 Like 2 Shares

JudeAfoo(m): 5:55pm On Feb 03

No power supply, what are you fools subsidizing?

10 Likes

anythingoes23: 5:55pm On Feb 03

I wonder where Tinubu used to get all this half Nigerians as his special advisers?

Stevosty: 5:55pm On Feb 03

Una do well, make una dey pack am like Abacha, looting spree.

2 Likes 1 Share

Ijaya123: 5:56pm On Feb 03

SalamRushdie:
How when the average cost of electricity in Nigeria is almost at par with America?
There is brazen fraud going on in that sector..
What is being subsidized there exactly ?

Band B to E are still enjoying subsidy. Only band A pays the true cost.

1 Like 2 Shares

mu2sa2: 5:56pm On Feb 03

Hahahaha, e lo fokan bale!
Abracadabra, the more you listen to these people talk the less you understand what they're saying. They're deliberately burying dia wuru-wuru in a mass of plenti- plenti grammar.

Tinubuadvocate: 5:57pm On Feb 03

They should remove that subsidy .

37 Likes

Chimbinyelum24: 5:57pm On Feb 03

To subside light that we don't have. I wonder

ValarDoharis: 5:57pm On Feb 03

Two years gone and the mandate thief has not nothing.

Absolutely nothing!

Baxilexi(m): 5:57pm On Feb 03

Dear FG,

Kindly provide a breakdown of the items that were subsidized.

Hydroelectric energy is basically nature at work. It has next to zero waste unlike nuclear energy, just wear and tear which is provided for by paying customers.

In Nigeria people pay for their own meters, run cables from 11kv poles to their homes, repair damaged transformers and ultimately provide auxiliary power for themselves so please what aspect of power is being subsidized and what’s the true cost?

2 Likes

TimeManager(m): 5:59pm On Feb 03

I knew the fake news media was lying as usual. But to be honest, PDP is the worst party in the world, how can you privatize NEPA to useless and incompetent investors and started paying them bail outs a few weeks after privatization. It didn't stop there, they realized they made a total mess of the privatization with the new buyers incapable of financial and technical expertise, then they started paying subsidies to ameliorate the effects. I consider PDP the worst mistakes Nigerians ever made.

-Kiss the truth!

1 Like

Flame333: 5:59pm On Feb 03

We are blessed as a nation to have it.. Stop making it look like you're doing us a favour from your personal purse...

ValarDoharis: 5:59pm On Feb 03

According to Buhari

Baxilexi:
Dear FG,

Kindly provide a breakdown of the items that were subsidized.

Hydroelectric energy is basically nature at work. It has next to zero waste unlike nuclear energy, just wear and tear which is provided for by paying customers.

In Nigeria people pay for their own meters, run cables from 11kv poles to their homes, repair damaged transformers and ultimately provide auxiliary power for themselves so please what aspect of power is being subsidized and what’s the true cost?

Nahunger(m): 5:59pm On Feb 03

Okay, FG sorry, just remove the subsidy and INCREASE ELECTRICITY TARRIF.

JUST LIKE YOU INCRRSSED Network operators tarrif last week.

Enddy50ty(m): 5:59pm On Feb 03

Tinubu’s government won make sure say dem finish this country kpata-kpata before dem even finish their first tenure.
What do we benefit from our government as citizens of this country.?

leye4u: 6:00pm On Feb 03

nlfpmod:
Olu Verheijen, Special Adviser to the President on Energy (Nigeria) clarifies:

https://x.com/OluVerheijen/status/1886355787674481011?t=VVobSObXmqJGrqAlH4H3WA&s=19

Who dey write the cheque for the electricity subsidy.

Liars

You sha wan increase electricity bill

Confirm4real(m): 6:00pm On Feb 03

Make I laugh small jare grin

efemena5050(m): 6:01pm On Feb 03

AqualinaXYZ:
God will punish Tinubu and his family

They’ll have a problem money can’t solve

Tunubu and NIGERIAN issue is even making me to doubt if God exist.....

(1) Reply)

Woman Caught With "Bomb Under Hijab" In Kano Hospital

(Go Up)

Sections: How To . 26
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or s on Nairaland.