The Minister of Power, Adebayo Adelabu, says Nigeria cannot continue to subsidise electricity, adding that the nation must begin to move towards a cost-effective tariff model, as the country is currently indebted to the tune of 1.3 trillion naira to generating companies (GenCos) and 1.3 billion dollars owed gas companies.
Mr Adelabu, addressed a press conference in Abuja where he said only 450 billion naira was budgeted for subsidy this year but the ministry needs over 2 trillion naira for subsidy.
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