The Special Adviser to the President on Infrastructure, Ahmad Rufai Zakari, yesterday, faulted a report by the World Bank saying the Federal Government spends, at least, $1.5 billion to meet the shortfall in the country’s electricity sector. The presidential aide said the survey conducted by the World Bank, which also claimed that 78 per cent of power consumers in Nigeria get less than 12 hours of daily supply of electricity was baseless. While the World Bank had revealed that the Nigeria government is currently subsidising the power sector with about $1.5 billion, especially due to tariff shortfall, Zakari told The Guardian that the recently-introduced Service-Based Tariff (SBF), which increased electricity bills for end-users, improved the liquidity in the market by about N65 billion in January.

Source: The Guardian April 27, 2021 04:05 UTC