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Manufacturers and labour unions have vehemently opposed the government's approval to hike tariffs by 240% for electricity users receiving 20 hours of power.
They underscore the necessity of the electricity subsidy, warning that its removal could force manufacturers to cease operations and worsen inflation.
Pulse reported that the government announced in a press conference in Abuja on Wednesday, April 3, that the subsidy for electricity previously enjoyed by Band A customers, constituting about 15% of all electricity users nationwide, has been completely removed from their tariffs.
As a result, their electricity bill will significantly increase, effective from the day of the announcement, which has impacted customers.
As reported by Business Day, these customers will now have to pay ₦225 per kilowatt-hour, marking a considerable rise from the previous charge of ₦68/kWh, representing approximately a 240% increase.
NLC tackles FG
The NLC criticised the recent increase in electricity tariffs, labelling it as lacking empathy and compassion.
They expressed concern that this hike would worsen the financial struggles of already impoverished Nigerians, especially given the removal of fuel subsidies.
Benson Upah, the Head of Information at the NLC headquarters, stated that the labour union would formulate a response to this "disruptive" policy after discussions with relevant bodies within the organisation.
As quoted by Daily Trust, 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).”