Nigeria’s power sector is consuming public cash at an accelerating pace, forcing the government to spend hundreds of billions of naira on subsidies to keep electricity flowing, even as decades of reforms and billions of dollars in investment have failed to deliver a reliable supply.
President Bola Tinubu, who took office in May 2023, promising tough economic reforms, is caught between the political risk of higher electricity tariffs and the fiscal reality of a power market that cannot pay its own bills.
While his administration scrapped p
