Former Vice President Atiku Abubakar has strongly criticized the recent hike in electricity tariff approved by the Nigerian Electricity Regulatory Commission (NERC), stating that the decision by President Bola Ahmed Tinubu’s administration will push Nigeria into a deeper economic crisis....For More CONTINUE THE FULL READING▶▶
In a statement released on Friday, Atiku expressed concerns about the government’s lack of consultation and the absence of a post-reform plan to mitigate the suffering of Nigerian citizens.
Under the new tariff, effective from April 3, customers who receive 20 hours of electricity supply daily will pay N225 per kilowatt (kW), nearly triple the current rate of N66 per kilowatt (kW).
This increase comes at a time when Nigerians are already grappling with economic hardship and inflation.
Atiku argues that the government is implementing reforms without adequate notice and without a plan to address the associated pain.
He emphasizes that the hike in electricity tariff will further exacerbate inflationary pressures and negatively impact the manufacturing sector, which is already facing challenges such as higher interest rates on bank loans and increased wages due to the new minimum wage.
The former Vice President advises the government to investigate the root causes of inefficiencies in the power sector before implementing further reforms.
He warns that the current approach by Tinubu’s administration is pushing the economy into a deeper crisis and lacks a human face.
The decision to increase electricity tariff has sparked widespread concern among Nigerians, who are already struggling with the recent withdrawal of subsidy on Premium Motor Spirit (PMS) and the floating of the domestic currency.
The government’s failure to address the pains associated with these measures has led to further public outcry, with many questioning the effectiveness of the reforms being implemented.
