The Federal Government has been advised by the Nigeria Labour Congress (NLC) to prepare for the consequences of the recent rise in electricity tariffs.
The NLC has sent a strong warning to President Bola Tinubu‘s administration, calling it unjust and unpopular and advising them to brace for the consequences.
NLC Head of Information Benson Upah expressed to Saturday Punch, “We have already stated that this tariff rise is highly unpopular and lacks sensitivity. The government must be prepared to accept the consequences if it moves forward with this raise or continues to pursue such unfair measures.”
We also share the concerns that manufacturers are voicing about how this will hurt companies and the business climate. Even in developed countries, high power tariffs have never been good for manufacturing.”
“It’s beyond understanding that the minister would so boldly declare that this strategy will continue. This suggests that neither the president nor the minister have any influence. The minister’s decision to pursue an unpopular agenda is depressing.”
Upah added, “This suggests a lack of authority on the part of the President and the Minister. The World Bank and the IMF seem to be the main forces behind this harmful approach.”
Therefore, our leaders need to be ready for the fallout from this extremely harmful policy. That’s all I have to say for now on this matter.
Despite requests for its reversal, the Federal Government insisted on Friday on the 240% tariff increase that power consumers in the band “A” category must pay.
It also disclosed that the short-term, subsidized electricity pricing system would be followed by a three-year transition plan to a fully cost-reflective tariff.
