Electricity subsidies hit 10-year high despite tariff hike

...Power supply yet to improve

Nigeria’s electricity subsidy bill skyrocketed to a historic N1.94 trillion in 2024, the highest level in a decade, even as the government implemented sweeping tariff reforms intended to reduce its financial burden. The Nigerian Electricity Regulatory Commission (NERC)’s latest annual report paints a sobering picture of rising subsidies, driven by policy contradictions and macroeconomic headwinds. The report reveals that subsidies accounted for a staggering 62.59 percent of the Nigerian Bulk Electr