Omo, hear dis gist! Naija government don open mouth talk say dem go deduct N3.6 trillion from Federation Account just to manage light bill subsidies for 2026, 2027, and 2028. Wetin be dis? Na to share the wahala among federal, state, and local government wey dem dey call fiscal responsibility.
As e be, dis plan no dey just dey come so. Na serious attempt by government to face light subsidy debt wey don accumulate like bad debt for market. E dey affect liquidity for power sector, and dem talk say this move go make subsidies clear and straightforward.
Inside di Medium-Term Expenditure Framework, dem clear say for 2026, e go cost N1.2 trillion, and dem dey expect am to remain like dat for 2027 and 2028. You fit ask, wetin we gain? E mean say we no go dey cover up expenditure like say na joke. Dem wan push una to pay for wetin you dey use.
Na so Budget Office DG, Tanimu Yakubu, dey talk say President Bola Tinubu don give order say make dem track electricity subsidy costs well well, and e no go just dey depend on FG alone. E say, as we dey hold tariff lower than wetin dey cost to produce, na big gap we dey create, and that one na how subsidy dey born.
Yakubu wan make am clear say from 2026, subsidy no go be burden for FG alone. Everybody suppose carry their own load. If any wahala show up, dem go track am so nobody go fit push am aside. Na dem go hold dem responsible for any subsidy dem wan provide.
Currently, na FG dey manage this subsidy through direct budget allocation. Dem dey pass am through Ministry of Finance to NBET, wey dey buy light from generating companies before dem go sell to distribution companies. But wetin dey happen? Gap wey dey show for regulated price don turn into debt – na because of low payments dem dey owe power producers.
As we dey enter the new plan, we go dey remove slot from the shared revenue. This means, if states no sabi manage light, dem suppose dey think am twice as dem dey remind day-to-day business. Dis deduction go affect all states wey no get proper electricity market yet.
Energy expert Habu Sadeik talk say dis approach go help clear wetin we dey owe, and dem go stop dey hide di real subsidy cost. Omo, dis move go make everybody don involved, no more one side dey carry the whole load.
Reacting to dis matter, the Chairman of PowerUp Nigeria, Adetayo Adegbemle, come praise di initiative, talk say e go help all federal units come together for the cost of light. But e still dey see di need for FG to find better solution wey no go dey place burden on FG again.
Minister of Power, Adebayo Adelabu, confirm say him dey back di initiative, say na step in di right direction. E say dem dey work on full implementation strategies, to make sure everybody for government dey follow guidelines well.
Dis new framework go help states and local governments plan wetin dem go save for their other sectors, if dem dey cut out subsidy. For those wey dey think say dem no go fit balance, e go force dem work better, na so dis matter be.
In summary, all eyes dey on this N3.6 trillion wey dey come as dem go be aware of their roles and contributions. Naija no dey lack electricity wahala, but this change fit shine small light at the end of di tunnel.
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