Nigerias electricity subsidy costs hit record high at N1.91 trillion over 11 months.

The Federal Government's monthly electricity subsidy spending has exceeded N1.91 trillion in the first 11 months of 2024, according to a report by the Nigerian Electricity Regulatory Commission.

The Nigerian government's monthly electricity subsidy payments have exceeded N1.91 trillion in the first 11 months of 2024, according to a report by the Nigerian Electricity Regulatory Commission. This significant increase marks a substantial rise from previous years and highlights the substantial financial burden on the country's energy sector. The massive spending has been attributed to various factors, including increased electricity demand and rising fuel prices. The subsidy obligation is expected to continue posing a challenge for the government's finances in the coming months.