{"id":25984,"date":"2024-04-04T16:18:28","date_gmt":"2024-04-04T16:18:28","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=25984"},"modified":"2024-04-04T16:18:28","modified_gmt":"2024-04-04T16:18:28","slug":"fg-slashes-electricity-subsidy-saves-billions","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/04\/04\/fg-slashes-electricity-subsidy-saves-billions\/","title":{"rendered":"FG Slashes Electricity Subsidy, Saves Billions"},"content":{"rendered":"<p>Following the government&#8217;s decision to revise electricity tariffs, there has been a substantial 52% reduction in monthly subsidy expenses. This significant cut translates to a decrease from the previous N261.2 billion to approximately N125.94 billion monthly, resulting in a notable N135.26 billion in fiscal savings.<\/p>\n<p>The adjustment primarily impacts premium electricity consumers categorized under Band A. The revised tariff structure redistributes the burden of costs, with consumers bearing a higher proportion of expenses previously covered by subsidies.<\/p>\n<p>Here&#8217;s a breakdown of the impact of the new tariff hike on subsidy costs for each Power Distribution Company (DisCo) as presented by the Nigerian Electricity Regulatory Commission (NERC):<\/p>\n<ol>\n<li>Abuja (AEDC):\n<ul>\n<li>Number of Band A Feeders: 107<\/li>\n<li>New tariff range: N33.95 to N225.00<\/li>\n<li>Monthly subsidy cost: Reduced to N18.95 billion from N38.01 billion<\/li>\n<\/ul>\n<\/li>\n<li>Kaduna (KAEDC):\n<ul>\n<li>Number of Band A Feeders: 25<\/li>\n<li>New tariff range: N35.41 to N225.00<\/li>\n<li>Monthly subsidy cost: Decreased to N9.76 billion from N18.24 billion<\/li>\n<\/ul>\n<\/li>\n<li>Benin (BEDC):\n<ul>\n<li>Number of Band A Feeders: 44<\/li>\n<li>New tariff range: N41.20 to N225.00<\/li>\n<li>Monthly subsidy cost: Lowered to N11.01 billion from N21.69 billion<\/li>\n<\/ul>\n<\/li>\n<li>Eko (EKEDC):\n<ul>\n<li>Number of Band A Feeders: 21<\/li>\n<li>New tariff range: N32.44 to N225.00<\/li>\n<li>Monthly subsidy cost: Reduced to N13.74 billion from N32.28 billion<\/li>\n<\/ul>\n<\/li>\n<li>Enugu (EEDC):\n<ul>\n<li>Number of Band A Feeders: 44<\/li>\n<li>New tariff range: N36.20 to N225.00<\/li>\n<li>Monthly subsidy cost: Decreased to N10.31 billion from N19.59 billion<\/li>\n<\/ul>\n<\/li>\n<li>Ibadan (IBEDC):\n<ul>\n<li>Number of Band A Feeders: 30<\/li>\n<li>New tariff range: N36.26 to N225.00<\/li>\n<li>Monthly subsidy cost: Decreased to N11.16 billion from N31.31 billion<\/li>\n<\/ul>\n<\/li>\n<li>Ikeja (IEDC):\n<ul>\n<li>Number of Band A Feeders: 45<\/li>\n<li>New tariff range: N31.24 to N225.00<\/li>\n<li>Monthly subsidy cost: Reduced to N17.03 billion from N38.37 billion<\/li>\n<\/ul>\n<\/li>\n<li>Jos (JEDC):\n<ul>\n<li>Number of Band A Feeders: 48<\/li>\n<li>New tariff range: N39.90 to N225.00<\/li>\n<li>Monthly subsidy cost: Lowered to N9.19 billion from N15.51 billion<\/li>\n<\/ul>\n<\/li>\n<li>Kano (KEDC):\n<ul>\n<li>Number of Band A Feeders: 43<\/li>\n<li>New tariff range: N31.88 to N225.00<\/li>\n<li>Monthly subsidy cost: Decreased to N7.79 billion from N18.48 billion<\/li>\n<\/ul>\n<\/li>\n<li>Port Harcourt (PHEDC):\n<ul>\n<li>Number of Band A Feeders: 43<\/li>\n<li>New tariff range: N39.44 to N225.00<\/li>\n<li>Monthly subsidy cost: Reduced to N10.13 billion from N18.89 billion<\/li>\n<\/ul>\n<\/li>\n<li>Yola (YEDC):\n<ul>\n<li>Number of Band A Feeders: 15<\/li>\n<li>New tariff range: N30.01 to N225.00<\/li>\n<li>Monthly subsidy cost: Decreased to N6.87 billion from N8.83 billion<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Following the government&#8217;s decision to revise electricity tariffs, there has been a substantial 52% reduction in monthly subsidy expenses. This significant cut translates to a decrease from the previous N261.2 billion to approximately N125.94 billion monthly, resulting in a notable N135.26 billion in fiscal savings. The adjustment primarily impacts premium electricity consumers categorized under Band [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":25989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-25984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/25984","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\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=25984"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/25984\/revisions"}],"predecessor-version":[{"id":25992,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/25984\/revisions\/25992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/25989"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=25984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=25984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=25984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}