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Tuesday, April 30
The report highlighted that the government’s subsidy obligation for 2023/Q3 amounted to ₦205 billion, averaging N68 billion per month.
The rise in subsidy payments is primarily attributed to the government’s initiative to standardize exchange rates, which was initiated in response to the lack of cost-reflective tariffs among all electricity distribution companies (DisCos).
The government commits to bridging the gap between cost-reflective tariffs and allowing tariffs through tariff shortfall funding in the absence of cost-reflective tariffs..
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