The Federal Government subsidised electricity with N471.69 billion in the fourth quarter of 2024 (Q4 2024), according to the Nigerian Electricity Regulatory Commission (NERC).
It represented 57 per cent of the total energy generated in the period under review, being payment of subsidy arising from the suspension of the end-use customer tariff at the rates payable in July 2024, according to NERC’s document entitled: “Quarterly Report 2024.”
The report said: “The NBET invoice payable by the DisCos for 2024/Q4 was only N360.97 billion because the FGN has taken responsibility for 57per cent (N471.69 billion) of the total generation costs in the form of subsidies arising from the freezing of end-use customer tariffs at the rates payable in July 2024.”
NERC said both local and international bilateral customers made payments during 2024/Q4 for outstanding Market Operator (MO) invoices from previous quarters.
According to the report, while “the international bilateral customers paid $2.98 million while the domestic bilateral customers paid N135.81 million.”
