The Federal Government has outlined a timeline to incrementally eliminate subsidy payments across the nation’s power sector, with implementation scheduled to commence in 2027.
Minister of Power Joseph Tegbe shared the update during a media interaction on Friday, where he addressed critical concerns regarding the rising debt load affecting the energy industry.
According to Tegbe, the transition away from subsidies will follow a progressive approach. He reassured the public that the government intends to manage the shift cautiously so that citizens do not suddenly lose the advantages provided by the current subsidy model.
In addition to discussing long-term plans, the minister confirmed that the government is not contemplating an immediate increase in electricity rates.
He emphasized that even as the phase-out approaches in 2027, protecting consumers from sudden financial disruption remains a top priority during the strategy’s rollout.
