The Federal Government has no plan to remove the 65 percent subsidy on electricity, at least for now.
Minister of Power, Adebayo Adelabu stated this at a meeting with Heads of Agencies under the Ministry in Abuja.
The Minister, who spoke on a variety of issues, directed Distribution Companies to recapitalize even as he lamented the current supply of electricity which he described as unacceptable and which hinders development.
He maintained that sanctions, which included license revocation, would be imposed on any Distribution Company that failed to deliver optimal service.
Adebayo said the Federal Government had the intention to raise power generation and distribution from the current 4,000 megawatts to 6000 megawatts in the next six months.
The Minister however said efforts are being intensified to improve on electricity generation by taking care of challenges and debt owed the Generation companies.
He added that Government was committed to decentralizing the power sector as franchise would be granted to new entrants.
