We can’t continue to subsidise electricity — FG

The Minister of Power, Adebayo Adelabu, says the Federal Government can no longer continue to subsidise electricity.

Adelabu made this known when he addressed a news conference in Abuja on Wednesday.

He noted that the country is currently indebted to the tune of N1.3 trillion to generating companies (GenCos) and 1.3 billion dollars owed gas companies.

Adelabu said so far the ministry needs over N 2 trillion to effect subsidy.

He disclosed that only N450 billion was budgeted for subsidy this year.

According to him, Nigeria must begin to move towards a cost-effective tariff model.

The minister said that states will now be allowed to generate power independently.