Electricity Subsidy Removal: A Recipe for Chaos, Warns APC Chieftain in Letter to Tinubu

A chieftain of the All Progressives Congress (APC), Ibrahim Tajudeen Shola, has penned a letter to President Bola Tinubu, cautioning him against the removal of electricity subsidies as advised by the International Monetary Fund (IMF).

The warning comes in the wake of the IMF’s recent report titled ‘IMF Executive Board Concludes Post Financing Assessment with Nigeria,’ which emphasized the necessity of phasing out subsidies to allocate resources more effectively towards targeted social welfare initiatives.

Shola argued that eliminating the electricity subsidy would place an overwhelming burden on the already struggling finances of ordinary Nigerians.

He pointed out that in a country where many people live below the poverty line, any increase in utility expenses will directly impact families’ ability to afford basic necessities.

Furthermore, with wages remaining stagnant and inflation on the rise, the idea of higher electricity bills is simply unmanageable for millions of households.

The timing of such a proposal couldn’t be worse, according to the APC chieftain, as Nigeria is already facing numerous economic challenges, such as high unemployment rates, slow growth, and a depreciating currency.

He warned that the removal of electricity subsidies would only exacerbate these issues, further eroding purchasing power and deepening the economic hardship faced by the average citizen.

Shola also highlighted the potential for widespread social unrest and civil disobedience, as Nigerians are already frustrated and disillusioned due to the government’s failure to deliver essential services.

Implementing additional austerity measures, he said, is expected to push them to their breaking point.

In his letter, Shola urged the current government to ensure that those who misappropriate funds intended for infrastructure development and modernization initiatives are held fully accountable under the law.

He stressed that concerned stakeholders must prioritize transparency and accountability in the distribution of resources, or else the attempts to reform the sector will be undermined.

The APC chieftain’s letter to President Tinubu serves as a stark reminder of the potential consequences of removing electricity subsidies in Nigeria.

It highlights the need for the government to carefully consider the impact of such measures on the lives of ordinary citizens and to prioritize transparency and accountability in the allocation of resources.