Following public outrage across the country on the recent increase on electricity tariff, the Nigerian Electricity Regulatory Commission (NERC) has disclosed that the Federal Government spent N540 billion subsidizing electricity in 2019.
The Commission stated on the need to put an end to subsidy in the sector because it is not sustainable.
NERC Vice-Chairman, Sanusi Garba, who spoke during an interview made it known that the amount spent on electricity subsidy should be channelled to other aspects of development in the country.
Garba was of the view that power users should pay for what they consume, instead of relying on government paying subsidy on electricity every year which is not in the best interest of the country to continue shifting tariff review.
He urged Nigerians to understand the need to end subsidy on electricity as well as review tariffs as the implication will result in service plummeting significantly.
It will be recalled that the Federal Government has both deregulated the power and oil sectors claiming that substantial amount of fund had been spent subsidizing these key sectors.
However, there had been reactions from Nigerians that the government is insensitive for its actions making post-Covid-19 era difficult for the citizens. They blamed the government for bringing policies considered inimical and unfriendly after Covid-19, a situation that was not palatable to adapt to the new normal.