The Senate has vehemently opposed the Ministry of Power’s proposal to increase electricity tariffs and remove subsidies, citing the prevailing economic hardship in the country.<\/p>\n
This decision by the Senate came after a motion moved by Senator Aminu Abbas (PDP, Adamawa Central) during plenary, advocating for the retention of electricity subsidies for the foreseeable future. The motion was considered and approved by the Senate, reflecting the chamber’s stance on the issue.<\/p>\n
Adebayo Adelabu, the Minister of Power, had revealed last week during a press conference in Abuja that Nigeria may no longer be able to sustain the current electricity subsidy. He highlighted the significant indebtedness of the country’s power sector to electricity-generating companies and gas suppliers, amounting to over N3 trillion.<\/p>\n
Adelabu elaborated, stating, “Today, we owe a total of N1.3tn to the power generating companies, out of which 60 per cent is owed to gas suppliers. Today we have a legacy debt, before 2014, to the gas companies of $1.3bn; at today\u2019s rate, that is close to N2 trillion.”<\/p>\n
Despite these financial challenges, the Senate remains resolute in its decision to retain electricity subsidies, prioritizing the welfare of Nigerians amidst the ongoing economic challenges. Yemi Adraamodu, the Senate’s spokesperson, emphasized that the Senate is committed to preventing any increase in electricity prices that could further burden the populace.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Senate has vehemently opposed the Ministry of Power’s proposal to increase electricity tariffs and remove subsidies, citing the prevailing economic hardship in the country. This decision by the Senate came after a motion moved by Senator Aminu Abbas (PDP, Adamawa Central) during plenary, advocating for the retention of electricity subsidies for the foreseeable future. […]<\/p>\n","protected":false},"author":24,"featured_media":20452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[698],"class_list":["post-20446","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-the-senate"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/20446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=20446"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/20446\/revisions"}],"predecessor-version":[{"id":20455,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/20446\/revisions\/20455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/20452"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=20446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=20446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=20446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}