On Friday, the Federal Government stood firm on the 240 per cent increase in tariffs for power consumers in the ‘A’ category, despite calls for a reversal.
They also announced that the subsidized pricing would only be temporary, with a plan to eventually transition to a fully cost-reflective tariff in three years.
The Nigeria Labour Congress strongly criticized this decision, warning the government to be prepared for the backlash of the unpopular and unfair tariff hike.
They accused the government of prioritizing the advice of international organizations like the World Bank and International Monetary Fund over the needs of its own people.
The Head of Information, NLC, Benson Upah said, “We did say earlier that this tariff hike is insensitive and unpopular. So if the government elects to continue with the hike or persists in something that is evil, I’m sure it is equally prepared for the consequences of that evil.
“The manufacturers are saying this is going to hurt businesses and make the environment more hostile, and we also said so. There is no place in the world where high power tariffs have supported manufacturing. Not even in the developed world.“So, it completely beats our imagination for the minister to have the audacity to say that the policy would continue. What this means is that the minister and the President are not in charge. It is saddening that the minister elected to pursue an unpopular policy.”Upah added, “It shows that the minister and the President are not in charge. The people in charge are the World Bank and the IMF. They are the ones driving this highly injurious policy.
“So, our leaders should be prepared for the consequences of this highly injurious policy. That is what I’ll say about this issue for now.”
