Nigerians should braze up for increase in the cost of electricity very soon.
An indication to this effect emerged on Wednesday when Power Minister, Adebayo Adelabu addressed a press conference on the state of power sector.
Adelabus declaration is coming on the heels of the International Monetary Fund,IMF, which early in the week advised Nigeria to remove subsidy on electricity as it did on petroleum products.
Adelabu said that with the current state of cost of generation and supply ,the Federal government cannot continue to bear the cost of electricity supply to consumers.
He said that Distribution and Generating companies have been given deadline to either improve their performance or have their license revoked.
He also disclosed that as part of governments efforts to deregularize electricity,state’s have now been empowered to Generate, transmit and distribute electricity.
TVC
