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FG To Spend N450bn On Electricity Interventions, Subsidies In 2024

In 2024, the Nigerian Federal Government aims to allocate N450 billion for power subsidies and interventions, as outlined in the analysis of the 2024 budget of the Nigerian Bulk Electricity Trading Company under the ‘FGN Power Intervention Fund.’

The total government expenditure in 2024 is expected to reach N454.81 billion. In the third quarter of 2023, the government allocated N204.56 billion for electricity subsidies, based on information from the Nigerian Electricity Regulatory Commission.

Furthermore, from January to September of the previous year, it spent N375.8 billion on electricity subsidies. Minister of Power, Adebayo Adelabu, maintains support for electricity subsidies despite some stakeholders advocating for tariff increases in the Nigeria Electricity Supply Industry.

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