Mohammed Idris, Nigeria’s Minister of Information and National Orientation, has revealed plans to reinvest the over N1 trillion expected to be saved from withdrawing electricity subsidy into improving power supply and enhancing social services. Speaking on Radio Nigeria Kaduna’s Hausa interview programme, Hannu Da Yawa, Idris highlighted the disproportionate nature of the subsidy, which primarily benefits affluent individuals and industrial clusters.
Idris emphasized that the withdrawal of the subsidy would not affect 85% of the population, as they still receive subsidies under the new electricity supply regime. He underscored the government’s commitment to strengthening the governance structure of the Nigerian Electricity Regulatory Commission (NERC) through the new Electricity Act signed by President Bola Tinubu. The act empowers NERC to impose severe sanctions on electricity distribution companies for infractions related to billing and supply.
Regarding post-fuel subsidy intervention programs, Idris confirmed the government’s commitment to supplying N100 billion worth of Compressed Natural Gas (CNG) buses and establishing CNG conversion centers nationwide to reduce transportation costs. He also mentioned that a committee tasked with reviewing the National Social Investment Programme has submitted its report, paving the way for the resumption of programs benefiting 15 million vulnerable households.
Responding to concerns about regional bias, Idris assured that the federal government remains dedicated to investing in projects across the country, including the northern region. He highlighted agricultural initiatives such as the Dry Season Farming Initiative, which has expanded cultivation of wheat, rice, cassava, and maize on 500,000 hectares of farmland. Additionally, Idris praised Kebbi state’s emergence as a hub for tomato farming and processing, attributing its success to collaboration with food processing firm GB Foods and the supportive environment for farmers.
Overall, Idris’s remarks underscore the government’s strategic approach to economic development, emphasizing reinvestment of subsidy savings into critical sectors like power, healthcare, education, and agriculture, while assuring equitable distribution of resources across regions.