SENATE URGES FG TO STOP PLANNED SUBSIDY REMOVAL ON ELECTRICITY
On Wednesday, the Senate strongly recommended that the federal government hold off on ending the electricity subsidy, especially given the current state of adversity that the country is facing.
The Senate’s position was determined after careful consideration and the passage of a motion in plenary, which emphasised the necessity of preserving Nigeria’s power subsidy for the foreseeable future. Senator Aminu Iya Abbas (PDP), who represents the Adamawa Central Zone, was the driving force behind the move.
It emphasised how important it is to keep the power subsidy in place as a vital step towards easing the constraints that the general public faces.
The Federal Government revealed this week the significant difficulties in maintaining the electricity subsidies.
This message was delivered in Abuja by Minister of Power Adebayo Adelabu, who emphasised how urgently the nation must move towards a tariff structure that is more economically sustainable.
Adelabu shed more light on the nation’s enormous debts, which include an astounding $1.3 billion payable to gas businesses and N1.3 trillion owed to industries that generate electricity.
Following these events, the Senate decided to urge caution and moderation, recommending that the socioeconomic implications be carefully considered before making any decisions about eliminating the power subsidies.
More Stories
BREAKING: FIRE GUTS LAGOS FACTORY, DESTROYS GOODS
A fire outbreak in a factory in Lagos on Wednesday night destroyed some goods estimated to be worth billions of...
JUST IN: NNPC APPOINTS SEGUN CFO, NTIA AS EVP UPSTREAM
NNPC Limited on Wednesday announced a major shake up in its top management team with Mr. Adedapo Segun appointed as...
TRUMP NOMINATES MATT GAETZ AS ATTORNEY GENERAL
President-elect Donald Trump has selected Rep. Matt Gaetz (R-FL) to serve as the next U.S. attorney general. Gaetz, a staunch...
NEWS: NNPC SIGNS 10-YEAR DEAL TO SUPPLY 100MMSCF/D GAS TO DANGOTE REFINERY
The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company Ltd. (NNPC Ltd.), has executed a...
(UPDATE) N70,000 MINIMUM WAGE: ZAMFARA GOVT UNCOVERS 20 GHOST MEDICAL DOCTORS
The Zamfara State Government has uncovered 20 medical doctors listed as ghost workers during an ongoing verification exercise aimed at...
EX GOV OF EDO STATE, OBASEKI EMBARKS ON POST-TENURE MEDICAL VACATION
Following the completion of his second tenure as the Governor of Edo State on the 11th of November 2024, His...