World Bank reveals why FG pays electricity subsidies
One of the justifications for electricity subsidies provided by the government, as stated by the World Bank, is the failure of numerous federal, state, and local government ministries, departments, and agencies (MDAs) to settle their electricity bills.
This detail was included in the Nigeria Public Finance Review report published by the World Bank.
As outlined in the report, the Nigerian Federal Government has been funding electricity costs ever since the sector was privatised. The report further indicated that this subsidy is among the elements leading to the underwhelming performance of the power industry.
The World Bank report also highlighted that the transition from a predominantly publicly owned to a predominantly privately owned power sector has not yielded the expected s...