Electricity: Nigeria Govt Spends N375.8bn On Subsidies, Consumers Pay N782.8 In Nine Months – The Reflector Newspaper
Saturday, August 30, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Featured

Electricity: Nigeria Govt Spends N375.8bn On Subsidies, Consumers Pay N782.8 In Nine Months

Adams Bamidele by Adams Bamidele
December 18, 2023
in Featured, News
0
Electricity: Nigeria Govt Spends N375.8bn On Subsidies, Consumers Pay N782.8 In Nine Months
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The federal government spent N375.8 billion on electricity subsidies from January to September this year, as power consumers paid N782.6 billion for the commodity during the same period.

The Nigerian Electricity Regulatory Commission, NERC, disclosed this in its first, second, and third quarters of 2023 reports.

Related posts

2027: Why Jonathan Should Not Contest — Shehu Sani

Jonathan Consulting, Not Out Of 2027 Race — Brother

August 30, 2025
Tinubu-Shettima Campaign Coordinator In Zamfara Resigns

Tinubu-Shettima Campaign Coordinator In Zamfara Resigns

August 30, 2025

According to the report, power distribution companies billed electricity users a total of N1.06 trillion nationwide during the nine months, during which they collected N782.6 billion.

Providing reasons for the subsidy in its just-released third-quarter 2023 report, the NERC stated that it was due to the absence of cost-reflective tariffs.

It said, “In the absence of cost-reflective tariffs, the government undertakes to cover the resultant gap (between the cost-reflective and allowed tariff) in the form of tariff shortfall funding. This funding is applied to the NBET (Nigerian Bulk Electricity Trading Company) invoices that are to be paid by Discos.

“The amount to be covered by the Disco is based on the tariff that they are allowed to charge and set out as their Minimum Remittance Obligation in the periodic Tariff Orders issued by the Commission.

“It is important to note that due to the absence of cost-reflective tariffs across all Discos, the government incurred a subsidy obligation of N204.59 billion in 2023/Q3 (average of N68.20bn per month), which is an increase of N69.37 billion (+51.3 per cent) compared to the N135.23 billion (average of N45.08 billion per month) incurred in 2023/Q2; this increase is largely attributable to the government’s policy to harmonise exchange rates.

“The rise in the government’s subsidy obligation meant that in 2023/Q3, Discos were only expected to cover 45 per cent of the total invoice received from NBET. For ease of subsidy administration, the MRO is limited to NBET only with the MO (Market Operator) being allowed to recover 100 per cent of its revenue requirement from the Discos.”

On the payment of electricity bills, it was observed from the three quarterly reports of the power regulator that consumers paid N247.09bn, N267.86bn and N267.61 billion in the first, second and third quarters of 2023, respectively.

This represents a total of N782.56 billion.

Accordingly, during the first, second, and third quarters, the electricity bills from Discos to consumers were N349.55 billion, 354.61 billion, and N359.38 billion, respectively.

The total bill for the nine months was N1.06 trillion.

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

Rivers Crisis: INEC Receives Ehie’s Letter On Vacancies In State Assembly

Next Post

Champions League Round Of 16: Arsenal, Bayern, Real Madrid To Discover Opponents

Next Post
Champions League Round Of 16: Arsenal, Bayern, Real Madrid To Discover Opponents

Champions League Round Of 16: Arsenal, Bayern, Real Madrid To Discover Opponents

RECOMMENDED NEWS

From Governor Seyi Makinde (GSM) to President Seyi Makinde(PSM): 2027 Perspective

My Political Party Will Determine My Political Future – Makinde

5 months ago
Cut Cost Of Governance To Pay Better Wages – Bishop To Tinubu

El-Rufai’s Son Sends Stark Reminder To Tinubu: ‘Voters Hold Power To Remove Anyone’

1 year ago
SSS Security Alert: NDF’s Abuja Office Raises Concerns

SSS Security Alert: NDF’s Abuja Office Raises Concerns

2 years ago
Jonathan Offered Obi Ministerial Slot To Drop 2027 Ambition – Kachikwu

Jonathan Offered Obi Ministerial Slot To Drop 2027 Ambition – Kachikwu

3 weeks ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections ADC Ademola Adeleke Akpabio Alaafin Of Oyo APC Atiku Bola Tinubu Buhari By-Elections CBEX Coalition Dangote Refinery Defection Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Goodluck Jonathan Gunmen INEC JAMB Natasha Nigerian National Petroleum Company Limited (NNPCL) Nnamdi Kanu NNPC NNPCL Olubadan PDP Peter Obi President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • Jonathan Consulting, Not Out Of 2027 Race — Brother
  • Tinubu-Shettima Campaign Coordinator In Zamfara Resigns
  • Abusive Marriage: Lagos Records 8,692 Domestic Violence Cases
  • Varsity Profs Demand N2.5m Salary

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

2027: Why Jonathan Should Not Contest — Shehu Sani

Jonathan Consulting, Not Out Of 2027 Race — Brother

August 30, 2025
Tinubu-Shettima Campaign Coordinator In Zamfara Resigns

Tinubu-Shettima Campaign Coordinator In Zamfara Resigns

August 30, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights