SENATE URGES FG TO STOP PLANNED SUBSIDY REMOVAL ON ELECTRICITY
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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.
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