They disclosed this in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos, while reacting to the monthly electricity subsidy of N30 billion by the government. xThe analysts said removal of electricity subsidy would save the government scarce resources considering the present economic realities. “Removal of electricity subsidy will breed competition and reduce inefficiency in the system. Mr Titus Okurounmu, a former Director,Central Bank of Nigeria, said the Federal Government could remove the subsidy, but not to create another monopoly. xIt disclosed that the government’s subsidy on electricity had been reduced by N20 billion monthly following improvements in the collection of power tariffs by distribution companies.

Source: The Guardian July 05, 2021 09:11 UTC