The Minister of Power, Sale Mamman, has said the Federal Government spends over N50 billion monthly subsidizing electricity so as not to take energy away from the reach of the common man.
The minister disclosed this while receiving members of the Hausa Guild of Actors and Film Producers, otherwise known as Kannywood, in his office.
In a statement issued in Abuja on Tuesday by his aide, Aaron Artimas, Mamman expressed concern over the failure by the distribution companies to stabilize their operations and meet their financial obligations to other players in the sector
He said it was in response to this unfortunate development that the Federal Government had been forced to partly subsidize the sector so as not to price the cost of electricity out of the reach of the common man.
He was quoted as saying, “Nigerians must understand that these companies were privatised long before the advent of this administration but the government has no alternative than to continue managing the sector before a final solution is secured.
“Through the Presidential Power Initiative and other intervention measures, the government is diligently working to massively resolve all these inherited problems that have continuously frustrated the success of the sector.”
