Breaking: Senate halts planned removal of electricity subsidy

The Senate on Wednesday, February 21, urged the federal government not to remove electricity subsidy given the present hardship in the country.

The resolution of the Senate followed its consideration and approval of a motion moved during plenary on the need to retain the subsidy on electricity in the county for the foreseeable future.

The motion was sponsored by a Senator representing the Adamawa Central zone, Aminu Iya Abbas (PDP).

The federal government, had last week declared that it was now “very difficult to sustain subsidy on electricity.”

Minister of Power, Adebayo Adelabu, who disclosed this in Abuja, said Nigeria must begin to move towards a cost-effective tariff model.

He revealed that the country was currently indebted to the tune of N1.3 trillion to electricity-generating companies and $ 1.3 billion debt to gas companies.

Details shortly…