*Pix above(l-r): NLC and PBAT

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We’ll shut down the Nigerian economy if President Bola Tinubu’s government becomes insensitive to go on with the electricity tariff hike, the Nigerian Labour Congress (NLC) has vowed.

The State Online reports that the government had announced the hike in electricity tariff at a press briefing in Abuja by NERC, adding that those affected would pay N225 per kilowatt-hour, up from the previous rate of N66/kWh, representing about 240 per cent increase. The government stated that the decision took effect on April 3, 2024.

The development means subsidy on electricity was withdrawn completely from the tariff of consumers on the band A category, which constitute about 15 per cent of the total 12.82 million power consumers across the country.

It also revealed that the subsidised power pricing regime would be for the short term, with a transition plan to achieve a full cost-reflective tariff within three years.

However, the decision did not go down well with the Nigeria Labour Congress, which told the Federal Government to prepare for the consequences of the tariff hike, which it described as wicked and unpopular, stressing that since the government preferred to listen to the World Bank and International Monetary Fund, it should be ready to face the consequences.

Speaking to The PUNCH on Saturday, 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.”(agency)/PLEASE SHARE