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Nairaland Forum / Nairaland / General / Politics / Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion (4604 Views)
More Hardship Looms For Nigerians As Discos Set To Increase Electricity Tariff / More Hardship Looms For Nigerians As Discos Mull Tariff Increment / Electricity: Uncertainty, As Discos Bid To Pull Out (2) (3) (4)
Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by adenigga(m): 1:52am On May 24 |
The Federal Government spent N628.61bn as subsidy on electricity in 2023, as power distribution companies collected a total revenue of N1.08tn during the same period, the latest industry data obtained from the Nigerian Electricity Regulatory Commission on Wednesday showed. Source: https://punchng.com/Electricity-subsidy-gulps-N629bn-as-Discos-generate-N1.1tn 1 Like
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Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by AqualinaXYZ: 6:03am On May 24 |
Money we Tinubu go use sniff cocaine with one nose E no go even reach am to do two nose 22 Likes 1 Share |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by mrjoeblinks: 6:05am On May 24 |
Ehen ? . |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by helinues: 6:06am On May 24 |
It's becoming profitable right? Good Now imagine if they go fully after government agencies who are owning billions 27 Likes 1 Share |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Joesno(m): 6:06am On May 24 |
Na una know wetin una dey talk 2 Likes |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Kaa4(m): 6:07am On May 24 |
BUt why is it that the Discos cannot supply meters. The money and charges being taken from unmetered and unregsutred consumers, where does the money go? 6 Likes |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Carlylepneuma: 6:08am On May 24 |
Wahala no de finish 2 Likes |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by inoki247: 6:08am On May 24 |
Lol no be Dam Dem dey use now ![]() ![]() ![]() |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Yankee101: 6:12am On May 24 |
Lies Stealing Kainji dam was built and fully paid for already decades ago The backbone of the power infrastructure was built decades ago. So what are you subsidizing? Is there going to be an end to this wanton stealing or until a coup or revolution happens? 12 Likes 1 Share |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by mutvy: 6:13am On May 24 |
Electricity subsidy? Nigeria is in the hands of thieves,morons and imbeciles. 9 Likes |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by rotadeco27: 6:16am On May 24 |
The way this light is stable now shows that someone just like to suffer us before. Even my Gen don rest and no noise again in the estate. Reviewing the whole thing, it more economical with this system than the former epileptic pattern in which 5k fuel will last just for 6-7hrs. Now with 40k per months ,Iam covered with at least 22 -24hrs power supply. 3 Likes |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Flame333: 6:22am On May 24 |
Didn't they spent 90 billion on Hajj.. Why come here to make it seem as a big deal Where are all the funds saved from this criminality 10 Likes
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Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by LegendHero(m): 6:24am On May 24 |
Cool. Make Tinubu sha no remove subsidy on electricity too. Even if it gulps 1trillion, just let the subsidy remain. All those nonsense economists that be been parroting subsidy removal since 20 years ago don see the effect subsidy removal can have on the average Nigerian. So until we stabilize this fuel/forex subsidy removal issue, status quo should just remain on other one for now. 27 Likes |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by EmilyRimmella: 6:28am On May 24 |
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Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by C2Ok: 6:34am On May 24 |
This country na illusion 🥲 1 Like |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by DesChyko: 6:35am On May 24 |
Did anyone see where their expenditure was mentioned or are just going with subsidy and revenue? |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Trill1(m): 6:41am On May 24 |
Summary The news on electricity subsidies highlights a significant financial burden on the government due to non-cost-reflective tariffs across all Distribution Companies (Discos). The subsidy obligation, which has increased notably over the quarters, reflects the government's efforts to maintain affordable electricity for consumers despite rising operational costs. In the third quarter of 2023, the government incurred ₦204.59 billion in subsidies, a substantial rise from ₦135.23 billion in the second quarter. This surge, primarily due to the policy of harmonising exchange rates, underscores the complex interplay between economic policies and the energy sector's financial sustainability. From a broader perspective, while these subsidies help keep electricity prices stable for consumers, they also highlight the urgent need for a more sustainable and cost-reflective tariff structure. Without such reforms, the financial strain on the government will likely continue to escalate, potentially impacting other critical areas of public spending. It's imperative for stakeholders to work towards a balanced approach that ensures affordable energy for consumers while promoting the financial viability of the Discos and the energy sector at large. GO SOLAR TODAY |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by isabellairab: 6:41am On May 24 |
Ok |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by house10studios: 6:41am On May 24 |
Ok in other news, my neighbourhood now looks like there's isn't light as people have now either stop paying for prepaid or just don't give a shit, thanks to the high prepaid tariff |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Franchise21(m): 6:44am On May 24 |
Electricity subsidy must be removed🤣 It must favour Baterias and their families🤣😂 1 Like |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by jmoore(m): 6:46am On May 24 |
If everyone was given prepaid meter, the subsidy won't be much. Most of the current subsidy is for darkness supplied. 1 Like |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by DoctorWHYna: 6:48am On May 24 |
AqualinaXYZ: Ahhhhh swear Cocaine sniffing viper |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Olusea: 6:49am On May 24 |
Believe this electricity subsidy lies at your own peril. These politicians know that Nigerians forget easily and they capitalize on this weakness to swindle us big time. Buhari said he removed electricity subsidy totally do during COVID in 2020. Again in 2022 they repeated another subsidy removal, and Nigerians cried out then, in fact that was when issue of Bands was introduced. Now the present government is talking about paying another electricity subsidy. As usual Nigerians have swallowed the lie hook line and sinker. The politicians are definitely recouping their investment with huge interest. May God help us. We must wake up. 5 Likes |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by DMerciful(m): 7:02am On May 24 |
GEJ was paying all these subsidies and at the same time making Nigeria's economy the largest in Africa yet stoopid buharists, baterias, prof gbajue were calling him clueless. Nigerians were living large but taking things for granted. They abused GEJ, and Southwesterners buried GEJ alive and enthroned Buhari. Nigeria has never remained the same again. Buhari and Tinubu are the worst plagues to happen to Nigeria 2 Likes 1 Share
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Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by watchindelta(m): 7:07am On May 24 |
Subsidy darkness? What a stupid Country 😒. Give Prepaid meter nepa no go gree! 🙄 they go suffer you sotey you go tired and give up ana nigeria wicked in every sectors. |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Mckraz01: 7:13am On May 24 |
adenigga: Dogo turenchi hahaha 🤣 |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by AcadaWriter: 7:14am On May 24 |
everybody in Nigeria is subsidy... |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by Chicagograduate(m): 7:26am On May 24 |
So Tinubu is paying electricity subsidy when the supply is not available? America wonder. |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by MrIcredible: 7:29am On May 24 |
MANY NIGERIANS USING PREPAID METERS DON'T PAY FOR ELECTRICITY. THEY TAP AND BYPASS THE METER TO USE THE LIGHT DIRECTLY. SOME USE THE NORMAL CONNECTION DURING DAY AND USE THE ILLEGAL CONNECTION AT NIGHT.... I have written several complaints to those senseless and useless EKEDC several times about my neighbours that have been using electricity illegally for about 3 years now without response or even coming around to investigate. MOST NIGERIANS ARE CRIMINALS BUT THEY WANT GOOD GOVERNANCE. |
Re: Electricity Subsidy Gulps ₦629 Billion As Discos Generate ₦1.1 Trillion by veekid(m): 7:32am On May 24 |
Tinubu is paying subsidy Discos are taxing customers for blackout How long are we going to do this for? |
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