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The Minister of Power, Adebayo Adelabu, has disclosed that the Federal Government owes electricity generation companies and electricity distribution companies over N4 trillion in electricity subsidies.
Speaking at the ongoing public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan on Thursday in Abuja, Adelabu said the debt hinders the power sector from delivering optimum service to consumers.
Giving a breakdown, the minister said N2 trillion is owed to GenCos as legacy debt, while another N1.9 trillion is owed to them as part of electricity subsidy for 2024, while DisCos are owed N450 billion for 2024 electricity subsidy.
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