It’s no longer news that the Federal Government has increased the electricity tariff from N66 to N225 for the various distribution companies (DisCos) in the country.
The National Electricity Regulatory Commission (NERC) said the increase in tariff will only affect customers enjoying 20-hour and above power supply in the country. The commission said customers in Bands B, C, D, and E, who consume less than 20 hours per day, are not affected by the increase. But it seems NERC is playing with the sensibility of Nigerians as the increase is across bands.
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However, the government’s justification for the increase, which includes the need to improve the electricity infrastructure and ensure stable supply, is understandable.
But the timing and manner in which it has been implemented are highly condemnable. At least, government should have taken a more holistic approach to address the underlying issues in the sector.
Since May 29, 2023, President Bola Tinubu has removed petrol subsidy leading to petrol price rising from N195 to N617 while the naira has been devalued.
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These policies have plunged citizens to unbearable hardship with prices of commodities increasing by over 300 percent, beyond their earnings.
I am a fierce critic of the past administration for badly managing the country’s economy, leaving behind a chaotic foreign exchange system, a weak national currency, and a compromised and politicised central bank.
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The country faces various forms of insecurity after the acclaimed technically defeated Boko Haram and other forms of insecurity. Insecurity has become a billion naira enterprise as kidnappers heartlessly extort millions from families and relatives of their captives as ransom.
From all indications, the Tinubu administration can tackle high cost of living as it’s doing against the free fail of the naira at the black market.
President Tinubu should stop the increase in electricity tariff because it will mostly affect manufacturers and other service providers, who will pass the burden to consumers.
Abba Dukawa,
Abuja
abbahydukawa@gmail.com
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