Former Vice President Atiku Abubakar says the hike in electricity tariff will worsen the hardship Nigerians are already going through.
Atiku said this in a statement on Friday in Abuja.
The Nigerian Electricity Regulation Commission (NERC) had on Wednesday increased the tariff for Band A electricity consumers. It said Band A consumers are those who enjoy power supply for at least 20 hours daily.
Atiku, who was the candidate of the Peoples Democratic Party (PDP) in the 2023 presidential election, said the federal government was unleashing another dose of reforms on Nigerians without adequate notice and without an adequate post-reform plan to mitigate the pain.
He stated that the increase was coming at a time Nigerians were going through excruciating difficulties occasioned by the withdrawal of subsidy on petrol 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,” he said.
Atiku also said President Bola Tinubu’s “men are pushing the economy into a deeper crisis. His reforms are without a human face.”
Read the full statement below.
PRESS RELEASE
Electricity tariff hike will worsen the suffering of Nigerians, negatively impact manufacturing sector
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.
Atiku Abubakar
Vice President of Nigeria, 1999-2007
Yola
5th April, 2024.
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