Nigerian authorities can no longer subsidize electricity for the population, Energy Minister Adebayo Adelabu has said.'What we have planned in the 2024 budget for subsidies is 450 billion naira [279 million euros] and we will need 2.9 trillion naira [1.8 billion euros] for subsidies. So can we afford it? We must be realistic. Can we afford it? ', he declared according to the daily Premium Times.Nigeria cannot continue to subsidize electricity, the country must start moving towards an economically efficient tariff model, he argues. However, the minister did not specify when and to what extent the government intended to reduce electricity subsidies for the population.Last year, fuel subsidies were removed in Nigeria, leading to a doubling of gasoline and diesel prices. As a result, inflation worsened and food prices rose sharply in the country.Source: Burkina Information Agency
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