Atiku Abubakar has added his voice to the increasing number of critics condemning the Federal Government’s decision to raise electricity tariffs, arguing that it exacerbates the economic challenges faced by citizens.
Recently, the Nigerian Electricity Regulatory Commission (NERC) increased the tariff for Band A consumers, who receive a minimum of 20 hours of daily power supply, as a measure to eliminate the subsidy on electricity.
However, Atiku, a prominent figure in the Peoples Democratic Party (PDP) and its former presidential candidate, argues that this action will exacerbate the economic challenges in a country grappling with soaring inflation rates currently at 31.70 percent.
‘Without a Human Face’
“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,” Atiku wrote on his X handle on Friday evening.
“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.”
He argued that the rise in tariffs won’t solve the challenges of the sector.
“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,” the former vice president said.
“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.”