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Atiku Abubakar, the Peoples Democratic Party (PDP) chieftain and former presidential candidate, has criticized the recent electricity tariff hike by the Nigerian Electricity Regulatory Council (NERC), arguing that the move will further compound Nigeria’s economic difficulties.
The tariff increase, affecting Band A consumers who enjoy at least 20 hours of daily power supply, is part of an effort to stop subsidy payments on electricity.
In a statement on his X account, Atiku highlighted the adverse impacts of the tariff hike, including increased inflationary pressures and challenges for the manufacturing sector, which is already dealing with higher interest rates on bank loans and the new minimum wage.
He called on President Bola Tinubu to ensure that the reforms are implemented in a sequenced manner and measures are taken to mitigate the pain.
Atiku also urged the government to revisit the privatization exercise that produced the Distribution Companies (DISCOs), emphasizing the need to hold the NERC accountable for ensuring improved service delivery.
He believes that the current reforms lack a human face and could push the economy into a deeper crisis.
The criticism from Atiku comes at a time when Nigeria is grappling with a challenging economic landscape, including surging inflation levels and the withdrawal of subsidy on Premium Motor Spirit (PMS), which have already caused significant difficulties for citizens.
By addressing the root cause of inefficiencies in the power sector and implementing reforms with a human face, Nigeria can work towards resolving the challenges in the sector and improving service delivery for its citizens.
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