The administration of President Bola Tinubu has announced plans to end subsidy payments in the power sector from 2027.
Naijaonpoint reports that the Minister of Power, Joseph Tegbe, made this known on Friday during a media interactive session.
While speaking on the power sector debt, Tegbe said the subsidy will be removed, but Nigerians will not be deprived of any benefits.
The minister also reiterated that there is no plan to increase tariffs in the immediate term.
Meanwhile, Tegbe has assured Nigerians that they would soon experience significant improvements in electricity supply nationwide.
This is as he noted that the government is working around the clock to address the challenges plaguing the sector.
He cautioned that while there is no magic wand that can bring about an immediate turnaround in the power sector, Nigerians would soon appreciate the efforts the current administration is making to improve things.
“This is a sector that we all know has a couple of challenges and a lot of efforts is being put into this sector by this current administration. People might not appreciate it but very soon people will appreciate it,” he said.
According to him, President Tinubu has invested significantly in the sector in recent years, and efforts are underway to ensure Nigerians receive improved electricity services.
He assured that despite the enormous challenges in the sector, Nigerians will soon see visible improvements.
