Former vice president and Peoples Democratic Party (PDP) candidate in 2023 presidential election, Atiku Abubakar, has condemned the recent hike in electricity tariff, saying such a decision is wrong-timed and will cause already suffering Nigerians more hardship.
SYMFONI NEWS had reported that the Nigerian Electricity Regulatory Commission (NERC) approved a 300 per cent tariff increment for Band A consumers, allowing power distribution companies to raise electricity prices for city dwellers from N68 to N225 per kilowatt-hour with effect from April 1, 2024.
Reacting to the development, Atiku, on his verified X handle, said the increase should not have come at a time Nigerians are recuperating from the economic hardship occasioned by the withdrawal of subsidy on PMS and floating of the domestic currency.
He also stressed the importance of understanding the root cause of the inefficiencies in the power sector before unleashing another dose of reforms, adding that the men around President Bola Tinubu are pushing the country into crisis with economic policies that have no human face.
His words: “As usual, the government is unleashing another dose of reforms without adequate notice and without an adequate post-reform plan to mitigate the pain.
“The increase in electricity tariff comes at a time when Nigerian citizens are going through excruciating difficulties occasioned by the withdrawal of subsidy on PMS and floating of the domestic currency.
“The government has not successfully dealt with the pains associated with the implementation of those measures, and now this. The hike in electricity tariff will create more difficulties for the citizens as inflationary pressures are elevated. Our manufacturing sector will similarly be impacted negatively. Not only are they paying higher interest rates on their bank loans but also paying more for diesel, paying higher wages as a result of the new minimum wage. The President’s men are pushing the economy into a deeper crisis. His reforms are without a human face.
“It is important that we understand the root cause of the inefficiencies in the power sector before unleashing another dose of reforms. It is time to revisit the privatization exercise that produced the DISCOs.
“Tinubu must (a) ensure that these reforms are sequenced, (b) implement measures to mitigate the pain, and (c) hold the NERC responsible for ensuring improved service delivery. -AA”
