Peter Obi, the Labour Party's Presidential candidate for the 2023 elections, has expressed his support for a recent increase in electricity tariffs, aligning with President Bola Ahmed Tinubu's administration.
Obi's stance came during his visit to Bauchi State on Sunday, April 7, 2024, where he attended the official launch of a borehole project in the Sabon Layi Community.
The Nigerian Electricity Regulatory Commission (NERC) announced an increase in electricity rates on April 3, 2024, for customers receiving 20 hours of power supply daily.
The new rates will see customers paying ₦225 per kilowatt-hour, up from the current ₦66.
Obi emphasized that any tariff increase should specifically target affluent individuals rather than adding to the burden of the already struggling.
He stressed the importance of supporting small businesses and promoting economic growth, highlighting the need for a concerted effort to increase power generation.
In his statement, Obi said:
"The solution is very simple, you can increase the tariff for those in areas where they can afford it.
We must do a lot in power generation because it has taken so long.
But we have to take into consideration that the majority of Nigerians are suffering.
So we need to support people in those areas to be able to live and be able to produce something."
The decision to increase electricity tariffs has faced considerable opposition from many Nigerians, who argue that it exacerbates the country's existing economic challenges.
Despite the backlash, Obi's endorsement of a targeted tariff hike reflects a broader understanding of the need to balance economic growth with the welfare of Nigerian citizens.
