Manufacturers and organized Labour have strongly opposed the Federal Government’s decision to increase the tariff by 240 percent for electricity consumers who receive a 20-hour power supply.
They stressed the importance of the electricity subsidy, cautioning that discontinuing it could lead to manufacturers shutting down and exacerbating inflation.
The subsidy for electricity has been fully removed from the tariff that customers in Band A, making up approximately 15% of all electricity users nationwide, are required to pay.
The government revealed during a press conference in Abuja by NERC on Wednesday that there would be a significant increase in the electricity bill. Those impacted will now be required to pay a rate of N225 per kilowatt-hour, a substantial rise from the previous charge of N68/kWh, representing approximately a 240 percent surge. It was stated that this adjustment became effective from yesterday, Wednesday.
The NLC’s spokesman, Benson Upah, said, “The government’s decision is not only insensitive, it is callous. It further pauperises consumers, especially workers whose wages are fixed and insufficient.
“It similarly makes the operating environment more hostile for manufacturers with the potential for an astronomical rise in the cost of goods and services or the worst case scenario, more closures and loss of jobs.
“The only people who stand to gain from this mindless social violence against the people are the World Bank and IMF (International Monetary Fund).”
