Electricity subsidy in Nigeria has soared to approximately N6 trillion over the past decade, while the Bola Tinubu administration grapples with funding challenges in the power sector. Between January and February this year, the subsidy surged to N267 billion, signaling potential shutdowns for power plants as payment to generation companies plummeted from 92% in 2022 to 12%. The subsidy, which was N12 billion in 2022, escalated to N267 billion in the first two months of 2024.
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