Na wah! Naija power sector don ki some serious gist wey dey hot!
You know sey di Federal Government don yan say dem go stop to carry electric subsidy waka alone. Dem plan to share am with state and local governments starting from 2026. This one fit turn am into real wahala!
According to reports wey come out, if this sharing plan see light, na as much as N3.6 trillion go just dey fly out from di federation account for 2026, 2027, and 2028. This matter dey hot like pepper soup!
Now, electricity distribution companies dey support dis plan, saying e go make sense. But power generation companies no gree o! Dem dey question wetin dis subsidy matter be. Dem dey talk say e no dey real and dis sharing fit just make di liquidity wahala worse for di sector.
Na Tanimu Yakubu, di Director-General of di Budget Office of di Federation, wey drop dis gists for Abuja during workshop wey dem hold for ministries and agencies. He talk say na President Bola Tinubu give di order to stop all dis hidden bills wey don dey accumulate for di electricity market.
But no be small fall out from di gist. Joy Ogaji, wey be di Managing Director for di Association of Power Generation Companies, don come out dey ask plenty questions. She ask, “If we dey talk subsidy, wetin proof dey show say e dey exist? Na only mouth we dey use talk?”
Ogaji dey vex, as she do her research, she see say di government dey owe Generating Companies plenty money since 2013. She talk say dem don dey pay out less than 35% of wetin dem suppose pay every month.
She don hammer on how di current budget no even mention subsidy matter. This year, di government just allocate N1.09 trillion for di sector, but na more like N200 billion dey dey miss every month. Na wetin be di final solution wey dey show face at all?
She shout say, “As of December 2025, di Federal Government don owe di Generating Companies N6.4 trillion. Dem wan share wetin dem no provide for? This na serious matter!
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