The Senate has announced its opposition to any electricity price hike that could further burden Nigerians, as reported by Punch News.

During a press conference in Abuja two days ago, Minister of Power, Adebayo Adelabu, mentioned that Nigeria might struggle to sustain the current electricity subsidy due to the country’s power sector owing over N3 trillion to electricity-generating and gas companies.

Adelabu highlighted the outstanding debts, stating, “Today, we owe a total of N1.3 trillion to power generating companies, with 60 per cent of it owed to gas suppliers. We also have a legacy debt to gas companies amounting to $1.3 billion before 2014, which is nearly N2 trillion at the current exchange rate.” He further explained that the 2024 budget allocates N450 billion for subsidy, while N2.9 trillion would be required. Questioning the feasibility, he asked, “Can we afford it? We must be realistic.”

In response to the minister’s statements and the proposed electricity price increase, Senate spokesperson Yemi Adaramodu emphasized that a minister can express opinions within their scope but noted that ultimate decisions extend beyond their purview. Adaramodu stated, “The minister can express views within his ministry, but we must remember that the minister’s authority is not conclusive on such matters. The Presidency and the National Assembly, specifically the committee overseeing power issues, play significant roles.”

Assuring Nigerians of the Senate’s commitment to safeguarding their interests, Adaramodu declared, “The 10th Senate will not forsake the people, as their challenges are ours as well.”

Regarding the consistent fuel price hikes, Adaramodu mentioned that the Senate was compiling various reports and would engage with the executive to provide informed recommendations.