CUPP Condemns Electricity Tariff Hike: “Anti-People, Lazy Policy”

The Coalition of United Political Parties (CUPP) has strongly criticized the recent increase in electricity tariffs, describing it as an “anti-masses” and “lazy policy” that comes at a very difficult time for the Nigerian people.

The group has called on the government to prioritize the interests of the people rather than implementing policies that could have a detrimental impact on the economy.

CUPP has expressed concerns over the potential consequences of the tariff hike, particularly for local manufacturers and small businesses.

The increased cost of production could lead to factory closures and relocations, further worsening the dollar-to-naira exchange rate, which the Tinubu administration has been attempting to address through what CUPP terms a “romance economy” approach.

The introduction of Band A, which covers about 15% of all consumers in Nigeria, has been highlighted as a particular concern.

Despite the fact that no area in Nigeria enjoys close to 20 hours of electricity, the tariff increase for this group has been set at 240%.

This could potentially pave the way for further increases for non-Band A customers, exacerbating the economic hardships faced by low-income earners.

The tariff hike is expected to trigger cost-push inflation, as the increased cost of the tariff imposed on producers of goods and services will likely be passed on to consumers.

This could lead to a rise in the cost of living and further challenges for the Nigerian people.

CUPP has questioned the economic planning and sensitivity of the Tinubu administration, wondering if the government has a council of seasoned political economists and market strategists to guide its decision-making.

The group believes that the current approach lacks foresight and sensitivity to the welfare of the Nigerian people and the nation’s economic growth.

As the debate over the electricity tariff hike continues, it remains to be seen how the government will respond to these concerns and whether it will reconsider its approach to ensure the well-being of the Nigerian people and the country’s economic stability.