Monthly power subsidy soars by 151% to N211bn

The electricity subsidy obligation of the Federal Government rose from N252.76bn to N633.30bn in the first quarter of 2024, a report by the Nigerian Electricity Regulatory Commission has disclosed. The NERC said the electricity subsidy skyrocketed to N211.10bn per month in the first three months of 2024, from N84.25bn in the last quarter of 2023.

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